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PayPal to acquire Israeli company CyActive for $60 million


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.


Heena Gupta

A reader at heart, this girl loves to express through writing. Her ears perk up as soon as she senses any tech molecule in the air. With the ability to use and navigate typical technologies she becomes a complete tech enthusiast. This post graduate in Mass Communication lives in the world of gadgets. Fiction, history and cartoons keep her busy in the free time. Her urge to grow mixed with excellent writing skills forces us to have her as a part of our workforce.

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