Visa Buys BioCatch for $2.4 Billion Amid Growing Hedge Fund Support
Canandaigua National Bank & Trust Co. has taken a new position in Visa Inc. ($V), purchasing approximately $2,188,000 worth of shares during the second quarter.
This move is part of a larger trend, with other hedge funds also increasing their stakes in Visa. Norges Bank bought a significant stake in the company in the fourth quarter, valued at over $5.8 billion.
The acquisition by Visa of BioCatch for $2.4 billion has been met with positive sentiment, as it strengthens the company's cybersecurity strategy and supports its faster-growing Value-Added Services business.