The American online payments giant PayPal is purchasing the Israeli cybersecurity start-up CyActive for $60 million.
Spokespeople from PayPal and CyActive both did not comment on the acquisition, but Globes reported that the deal has been signed and is expected to close shortly.
CyActive, which was founded in 2013 by CEO Liran Tancman and Chief Technology Officer Shlomi Boutnaru, claims that its technology can predict and prevent hacker attacks by forecasting the future of malware evolution “using bio-inspired algorithms and a deep understanding the black hats’ hacking process.”
The Israeli start-up was part of an incubator program launched by the venture capital firm JVP. CyActive is PayPal’s second acquisition in Israel.
The deal for the Beersheba-based CyActive was signed last week.
CyActive is the second Israeli company that PayPal has purchased. In 2008 it paid $169 million for FraudSciences, which monitors financial fraud.