PayPal may be in the process of purchasing the Israel-based security firm CyActive for $60 million.
CyActive is a predictive analytic security technology that protects against malware. The news that PayPal is in the process of closing a deal with the company was first reported by Israeli newspaper The Globes.
The company was founded in 2013 and has taken an undisclosed amount of funding from Jerusalem Venture Partners and the VC arm of Germany’s Siemens.
The last time PayPal acquired a company in Israel was in 2008, when it purchased Fraud Sciences for $170 million — also a security company.
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
We’ve reached out to PayPal for comment on the possible acquisition and will update the story as necessary.
