PayPal Acquires Malware Prediction Company CyActive

By Alex Spencer

PayPal Cy

PayPal has acquired CyActive, an Israeli cyber-security firm that has developed technology to predict how malware will develop, for a reported $60m (£40m).

It’s an attempt to ‘future proof’ PayPal’s platform from future threats, by pre-emptively stopping security threats to its customers before they happen.

The acquisition comes as part for PayPal establishing a security centre in Israel ‘to tap into the country’s cutting edge technology and top cyber-security talent’, an extension of the fraud and risk detection centre it has already established in Tel Aviv.

“Our new security center is an important milestone for us as security is in our DNA at PayPal,” said James Barrese, CTO and SVP of Payment Services at PayPal. “It’s a priority that is deeply integrated into every business and product decision we make each and every day.”

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Source:: Mobile App News