Visa buys CyberSource for $2 billion

It was announced that shareholders of electronic payment processor a Mountain View –based CyberSource have approved the acquisition of the company by San Francisco-based Visa for $2 billion. The deal was announced in April, when Visa agreed to pay $26 per share for CyberSource. The purchase is expected to be completed today, on July 21. 

It is expected that fraud prevention technology of CyberSource will help Visa to boost the online use of credit, debit and prepaid cards that bear its name.

“Online commerce continues to grow rapidly, and this acquisition will enable Visa to offer new and enhanced services that will better meet the growing demand among merchants globally for robust, secure online payment processing capabilities which in turn will grow the entire e-commerce category,” Joseph Saunders, Visa’s chairman and CEO, said in announcing the acquisition.