01/28/2008
eBay to acquire online risk tools provider Fraud Sciences for $169 million
eBay has agreed to acquire the Isreali online risk tools provider Fraud Sciences for $169 million in a cash transaction. Fraud Sciences’ risk tools and analytics are intend to enhance the fraud management systems of eBay and its online payment solutions firm, PayPal.
“Integrating Fraud Sciences’ risk tools with PayPal’s sophisticated fraud management system should allow us to be even more effective in protecting eBay and PayPal's hundreds of millions of customers around the world," said Scott Thompson, President of PayPal.
Key personnel from Fraud Sciences, including Yossi Barak, Fraud Sciences’ COO, and founders Shvat Shaked and Saar Wilf, will join the company’s technology and fraud management teams. Gadi Maier, Fraud Sciences' President and CEO, will provide strategic and operational support to the company during the integration period.
Fraud Sciences has developed a technology that differentiates between real and fraudulent transactions with unprecedented accuracy. Using this groundbreaking technology, Fraud Sciences offers a unique transaction verification service to manage online fraud. Fraud Sciences is funded by BRM Capital, Redpoint Ventures and other US and Israeli investors.
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12/16/2006
E-commerce solution provider Mercado Software secured $11.5 million in a new funding round
E-commerce search solution provider Mercado Software has secured $11.5 million in a new funding round from The Challenge Fund, Consensus Group, Pitango Venture Capital, Eucalyptus, Star Ventures and Valley Venture Capital. The financing includes a line of credit by US venture funding institution Lighthouse Capital Partners.
Mercado gained phenomenal momentum in 2006, as e-commerce begins to take a firm and permanent hold in EMEA and Asia Pac, according to Corey Leibow, president and CEO of Mercado. The latest round of funding will support the company plans to expand into new markets in 2007 and continue to innovate its product line with features that enhance its role in the e-commerce ecosystem.
Mercado is providing innovative and effective e-commerce search & navigation and advanced merchandising solutions to leading US retailers. Mercado currently has more than 50 customers, including Macy's, JC Penney, Sears, Tower Records, and Williams-Sonoma.
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