PayPal to acquire cyber security firm CyActive
According to reports eBay Inc.’s payments arm PayPal is to acquire a cyber security firm called CyActive. Details are vague but it seems that they will bag the firm that claims to pre-empt cyber security attacks for $60m.
Reuters says of the deal: “CyActive, which says it can forecast future cyber attacks and offer companies such as utilities detection and prevention, received a strategic investment from the venture capital unit of Siemens SIGEn.DE in September. Financial details were not disclosed.
Siemens joined Jerusalem Venture Partners (JVP), an Israeli venture capital firm, in investing in CyActive. JVP was the main shareholder in another cyber security company, CyberArk Software (CYBR.O), which went public on Nasdaq in September.”
We’ll see whether the deal happens and report on the benefits to PayPal in due course.