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Visa to buy CyberSource

Visa to buy CyberSource

22 April 2010 12:27 (UTC +04:00)

Baku â€“ APA-Economics. Visa this morning said it has reached an agreement to acquire CyberSource (CYBS), a provider of electronic payment, risk management and payment security systems to online merchants, for $26 a share in cash, or about $2 billion. Visa will do the deal with cash on hand, Barron’s (blog) reported.

CyberSource plays a role in about 25% of all U.S. e-commerce transactions as measured by dollars, and serves more than 295,000 merchants.

Visa said the deal will be about 4-5 cents a share dilutive in Q4 2010 on a GAAP basis; the company said it should be slightly dilutive in 2011, primarily due to amortization of intangible assets. The deal is expected to close in the fourth quarter.

CYBS is up $6.19, or 31.8%, to $25.63; V is down 79 cents, or 0.8%, to $93.26..

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