eBay through Paypal has acquired fraud detection provider Fraud Sciences Ltd for $169 million.
Israel and Palo Alto based Fraud Sciences offers automated anti-fraud systems including SpotLight VFX and SpotLight T2T, merchant solutions the provide transaction verification with fraud prevention. In an October 2007 profile, Israelplug said that Fraud Sciences products “help online retailers verify the identity of buyers and accept orders that they would have seen as suspicious in the past - thus enabling them to increase their sales.”
eBay said the acquisition will assist them in significantly improving trust and safety across its sites in 2008. Fraud Sciences’ risk tools will be integrated with PayPal’s fraud management system.
Personnel from Fraud Sciences, including Yossi Barak, Fraud Sciences’ COO, and founders Shvat Shaked and Saar Wilf, will join PayPal’s technology and fraud management teams.
This acquisition is expected to be completed within 30 days.
source:Techcrunch
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