SAN FRANCISCO, July 21 /PRNewswire-FirstCall/ -- Visa Inc.
(NYSE: V) ("Visa") announced today that it has completed its
acquisition of CyberSource Corporation (Nasdaq: CYBS), at a price
of $26.00 per share of CyberSource
common stock, or total consideration of approximately $2.0 billion, to be paid with cash on hand.
The acquisition of CyberSource expands Visa's online payment,
fraud, and security management capabilities. The combination
is expected to accelerate the growth of the eCommerce category and
enhance the value of Visa's network, product and service offerings
to financial institutions, merchants, partners and consumers.
About Visa
Visa is a global payments technology company that connects
consumers, businesses, financial institutions and governments in
more than 200 countries and territories to fast, secure and
reliable digital currency. Underpinning digital currency is one of
the world's most advanced processing networks—VisaNet—that is
capable of handling more than 10,000 transactions a second, with
fraud protection for consumers and guaranteed payment for
merchants. Visa is not a bank and does not issue cards, extend
credit or set rates and fees for consumers. Visa's innovations,
however, enable its financial institution customers to offer
consumers more choices: pay now with debit, ahead of time with
prepaid or later with credit products. For more information, visit
www.corporate.visa.com.
Forward Looking Statements
This news release contains forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. These statements can be identified by the term
"expected to" and similar references to the future. Examples
of such forward-looking statements include, but are not limited to,
statements we make about the growth of the eCommerce category and
the value of Visa's network, product and service offerings.
By their nature, forward-looking statements: (i) speak only
as of the date they are made, (ii) are neither statements of
historical fact nor guarantees of future performance and
(iii) are subject to risks, uncertainties, assumptions and
changes in circumstances that are difficult to predict or quantify.
Therefore, actual results could differ materially and
adversely from those forward-looking statements as a result of a
variety of factors, including the risk that CyberSource's business
will not be successfully integrated with Visa's business, costs
associated with the merger, and the other factors that are
discussed under the heading "Risk Factors" in Visa's most recent
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q
for its most recent fiscal year. You are cautioned not to
place undue reliance on such statements. Unless required to
do so by law, we do not intend to update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
Contacts:
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Visa Inc.
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Investor Relations: Jack Carsky
or Victoria Hyde-Dunn, 415-932-2213, ir@visa.com
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Media Relations: Will Valentine,
415-932-2564, globalmedia@visa.com
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SOURCE Visa Inc.