Authorize.net Purchased by Cybersource
One online credit-card purchasing technology company purchased another Tuesday, when Cybersource Corp. announced that it was purchasing competitor Authorize.net for $565 million, the Boston Globe reported.
The services of the two companies are “complementary,” Cybersource’s chief executive said, because Cybersource mostly serves larger businesses, while Authorize is more focused on small and medium-sized clients.
Authorize.net, formerly known as Lightbridge, will close its Massachusetts office but maintain headquarters in Bellevue, Wash. and American Fork, Utah. Cybersource is based in Mountain View, Calif., but also has offices in Britain and Japan.