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CyberSource buys software maker in stock deal

In a bid to strengthen its online payment offerings, the transaction services company agrees to acquire PaylinX in a deal worth about $140 million.

In a bid to strengthen its online payment offerings, transaction services company CyberSource has acquired PaylinX in a deal worth about $140 million.

Mountain View, Calif.-based Cybersource issued 8.4 million shares of its stock to acquire privately held PaylinX. CyberSource stock was down 25 cents in late trading at $16.69.

St. Louis-based PaylinX makes software to facilitate credit card transactions over the Web and also manufactures payment software for offline transactions. CyberSource is banking on the notion that the rise in the number of brick-and-mortar companies venturing into e-commerce will need both online and offline payment systems.

PaylinX will continue as a wholly owned subsidiary but will take on the CyberSource name, a CyberSource representative said. A decision on whether PaylinX products will be renamed has not been made, the representative said.