Monday, June 18, 2007

CyberSource Buys Authorize.Net

Mountain View-based CyberSource Corporation, a provider of electronic payment services, said today that it has acquired credit card processing and electronic gateway firm Authorize.Net. The deal is worth approximately $565 in cash and stock. According to CyberSource, Authorize.Net shareholders will receive 1.1611 shares of CyberSource common stock for every share of Authorize.Net common stock. The deal also includes $125M in a cash payment to shareholders. Goldman Sachs served as an advisor to CyberSource, and Jeffries Broadview to Authorize.net in the transaction.