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CyberSource-Authorize.Net Deal Final |
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CyberSource Corporation, , a leading provider of electronic payment and risk management solutions, today announced that it has completed the acquisition of Authorize.Net Holdings, Inc. of Marlborough, Massachusetts. CyberSource first announced an agreement to acquire Authorize.Net Holdings on June 18, 2007. Requisite stockholder approvals have been obtained and all regulatory requirements have been met.
The acquisition was a stock and cash transaction valued at
approximately $662 million, based on the closing price of CyberSource
common stock on October 31, 2007. Under the terms of the merger
agreement, Authorize.Net stockholders will receive 1.1611 shares of
CyberSource common stock for every share of Authorize.Net common stock.
Additionally, Authorize.Net stockholders will receive a pro-rata share
of $125 million, or approximately $4.42 per share, in the form of a
cash payment.
As a result of the acquisition, CyberSource now has approximately
217,000 customers, ranging in size from home-based businesses to some
of the largest enterprises in the world. (PR Newswire)
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