Visa Buys BioCatch for $2.4B, Expanding Digital Fraud Protection

Visa has agreed to acquire Israeli digital fraud and financial crime protection company BioCatch for $2.4 billion in cash, one of the biggest-ever deals in the Israeli tech sector.

The acquisition represents an increase in value of over $1 billion in just 15 months, after Permira private equity fund acquired control of the company at a valuation of $1.3 billion last March.

BioCatch has developed a system for managing user identities based on biological parameters such as mouse movements and individual browsing habits.

The company protects 1.8 billion devices and 760 million users worldwide, serving over 350 banks, including 100 of the world's largest.