Visa Buys Israeli Cybersecurity Firm BioCatch for $2.4 Billion
Visa has acquired Israeli company BioCatch for $2.4 billion in cash, according to an announcement yesterday by the American credit card and digital payments company.
The deal marks a significant milestone for BioCatch, which became a unicorn (valued at over $1 billion) back in late November 2023 after completing a secondary transaction at approximately that valuation.
BioCatch develops AI-powered systems for detecting and preventing financial fraud by analyzing biometric and behavioral characteristics. The company protects 1.8 billion devices and 760 million users worldwide, serving more than 350 banking clients across 21 countries, including over 100 of the world's largest banks.
According to Visa, the acquisition is part of its strategy to help clients prevent upstream cyber threats. BioCatch employees about 280 workers, half of them in Israel.