PayPal the online payment company and a unit of the online ecommerce portal eBay is all set to acquire a cyber-security company from Israel named as CyActive for $60 million. As reported by the Globes financial newspaper the deal is expected to close shortly.
However, as per the report from Reuters, a spokeswoman for CyActive, which was founded in 2013, declined to comment on the reports. 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 in September. Financial details were not disclosed.
After acquiring CyActive this would become PayPal’s second acquisition in Israel. Earlier, the company bought, FraudSciences, which monitors financial fraud, in 2008 for $169 million.