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| Company type | Payment Gateway |
|---|---|
| Industry | Technology |
| Founded | 1994 |
| Headquarters | , United States |
| Parent | Visa Inc. |
Cybersource is an American payment gateway founded in 1994.
In November 2007, Cybersource acquired the U.S. small business payment services provider Authorize.net for $565 million.[1]
On April 22, 2010, Visa Inc. acquired Cybersource for $2 billion.[2][3]
History
[edit]CyberSource was founded in 1994 by William S. McKiernan.[4] The company was created to provide online payment and fraud management services for medium and large-sized merchants. It initially launched software.net, an online software store, and built the payment infrastructure for its own e-commerce operations.[4]
During the dot-com boom, CyberSource went public. The company commenced its initial public offering (IPO) on June 23, 1999, issuing 4 million shares of common stock at an offering price of $11 per share. The company was listed under the stock ticker CYBS.[5]
In 2007, CyberSource announced its acquisition of Authorize.Net, a provider of payment solutions for small businesses, for $565 million.[1][6] This move expanded CyberSource's market reach from its traditional base of mid-sized and enterprise customers to include small businesses.[6]
On April 21, 2010, Visa Inc. announced it had agreed to acquire CyberSource for approximately $2 billion in cash.[2][7] The primary strategic rationale for the acquisition was to accelerate Visa's growth in the e-commerce sector.[8] A key aspect of the strategy was the plan to combine CyberSource's detailed merchant-level transaction data with Visa's extensive network-wide data. During the acquisition announcement, Visa executives stated that combining these two data sets was a "key synergy calculation" and would allow for the creation of more powerful and predictive fraud prevention services.[9]
The acquisition was completed on July 21, 2010, at which point CyberSource became a wholly-owned subsidiary of Visa Inc.[10]
See also
[edit]References
[edit]- ^ a b "Cybersource to Buy Authorize.Net in $565M Deal". eWeek. 2007-06-19. Archived from the original on September 9, 2012. Retrieved 2007-06-19.
- ^ a b "Visa seeks online growth with Cybersource". Reuters. 2010-04-21.
- ^ Martin, Andrew (2010-04-21). "Visa Buys Cybersource for $2 Billion". The New York Times. ISSN 0362-4331. Retrieved 2020-04-17.
- ^ a b "DEFINITIVE PROXY STATEMENT". www.sec.gov. 2008-04-10. Retrieved 2025-11-17.
- ^ Marcial, Gene (1999-07-26). "Cybersource Looks After E Business - Bloomberg".
- ^ a b "CyberSource buys Authorize.Net for $565m". Finextra Research. 2007-06-18. Retrieved 2025-11-17.
- ^ "Visa Buys CyberSource for $2 Billion (Published 2010)". 2010-04-22. Retrieved 2025-11-17.
- ^ Live, Mobile World (2010-05-05). "Mobile Payment: CyberSource CEO Addresses Visa's Acquisition". Mobile World Live. Retrieved 2025-11-17.
- ^ "V - Visa Inc. Conference Call to discuss Acquisition of CyberSource" (PDF). 2010-04-21.
- ^ "Visa Inc. Completes Acquisition of CyberSource". investor.visa.com. Retrieved 2025-11-17.
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