To extend its global security leadership, PayPal has acquired Israel-based security firm CyActive for $60 million. The acquisition of CyActive will bring talent and immediately add “future-proof” technology to PayPal’s world-class security platform.
“With CyActive, we’ll have even more ways to proactively predict and prevent security threats from ever affecting our customers,” PayPal wrote in a BlogPost. In 2008, PayPal also bought a company in Israel, it purchased Fraud Sciences for $170 million.
CyActive was founded in 2013 and has taken an undisclosed amount of funding from Jerusalem Venture Partners and the VC arm of Germany’s Siemens. It specializes in technology that can predict how malware (a software designed to disrupt a computer system) will develop. The company has developed an unprecedented ability to automatically forecast the future of malware evolution, based on bio-inspired algorithms and a understanding of black hats’ hacking process.
“Our goal is to extend our global security leadership, and bolster our efforts in predictive threat detection and prevention. The creation of the security center is an extension of the capabilities we have already developed through the success of our Fraud and Risk Detection Center in Tel Aviv,” The company added.Category Business