In a move to improve (or restore) public confidence in its services, eBay announced the acquisition of Fraud Sciences Limited. While it may not be as big a problem in our niche, instilling more buyer (and seller) confidence can only help in bringing new and repeat buisness to eBay.
SAN JOSE, Calif. & TEL AVIV, Israel–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.
Hat Tip: TechCrunch
