I think they purchase the company to make ebay and paypal fraud detection collaboration seamless. They purchased the company for safety and trust department's exclusive use looks like. More explanation from their press release below.
SAN JOSE, Calif. & TEL AVIV, Israel--(BUSINESS WIRE)--eBay Inc. today announced that PayPal has agreed to acquire Fraud Sciences Ltd., a privately-held Israeli company with expertise in online risk tools, in a cash transaction with an aggregate transaction value of approximately $169 million. Fraud Sciences’ risk tools and analytics are expected to enhance eBay and PayPal’s proprietary fraud management systems and accelerate the development of next generation fraud detection tools.
The acquisition of Fraud Sciences fits into eBay’s recently announced plans to significantly improve trust and safety across its sites in 2008. “Integrating Fraud Sciences’ risk tools with PayPal’s sophisticated fraud management system should allow us to be even more effective in protecting eBay and PayPal's hundreds of millions of customers around the world," said Scott Thompson, President of PayPal.
About Fraud Sciences
Fraud Sciences is a leading innovator in online risk tools. Following years of intensive research, Fraud Sciences has developed a technology that differentiates between real and fraudulent transactions with unprecedented accuracy. Using this groundbreaking technology, Fraud Sciences offers a unique transaction verification service to manage online fraud. Fraud Sciences is funded by BRM Capital, Redpoint Ventures and other US and Israeli investors
|