Pay Pal buys Israeli cyber security start-up
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JERUSALEM (JTA) – PayPal has purchased the Israeli cyber security company CyActive for $60 million.
The deal for the Beersheba-based CyActive was signed last week and is expected to close shortly, the Israeli business daily Globes reported.
A spokeswoman for CyActive, which was founded in 2013, declined to comment on the reports to local media and Reuters. Pay Pal also declined to comment.
CyActive is the second Israeli company that PayPal has purchased. In 2008 it paid $169 million for FraudSciences, which monitors financial fraud.
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