Friday, November 02, 2007

CyberSource Completes $662 Million Buy of Marlborough's Authorize.Net - Marlborough, MA

CyberSource, a California-based provider of electronic payment and risk management technology, has completed its acquisition of Authorize.Net, a Marlborough-based provider of online payment services, for $662 million in cash and stock. "CyberSource has long been a leader in bringing eCommerce to mid-sized and larger companies; Authorize.Net is a leader in providing similar services to small businesses," said Bill McKiernan, chairman and CEO of CyberSource, in an announcement about the deal's closing. "The combination of our two companies helps secure our leadership position in eCommerce and gives us more resources to bring innovative payment solutions to our customers and partners." Authorize.Net was founded 11 years ago.


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