Paypal, owned by eBay Inc., announced that they will purchase Israeli company Fraud Sciences for $169 million.
eBay has stated that the purchase of Fraud Sciences will allow them to further build up their web safety on both Paypal and eBay.
eBay will not make the transaction have any material value in its 2008 outlook but beyond that it is expected to have an impact.
The founders of Fraud Sciences, Shvat Shaked and Saar Willf, as well as COO Yossi Barak will join Paypal’s technology and fraud management teams.
The purchase will close within the next 30 days.