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Friday, March 13, 2015

PayPal Purchases Israeli Cybersecurity

Online payments group PayPal announced Tuesday it was acquiring Israeli cybersecurity firm CyActive and establishing a new security hub in Israel.

The terms of the deal were not announced, but some reports this week said PayPal, which is being spun off by online giant eBay, was paying $60 million for CyActive, reports AFP.

"Our goal is to extend our global security leadership, and bolster our efforts in predictive threat detection and prevention," said PayPal chief technology officer James Barrese in a blog post.

"The acquisition of CyActive will bring great talent and immediately add 'future-proof' technology to PayPal's world-class security platform. With CyActive, we'll have even more ways to proactively predict and prevent security threats from ever affecting our customers."

CyActive, which launched in 2013, specializes in "predictive cybersecurity," or heading off online attacks before they happen.


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