Samsung Unpacked: Everything Announced Galaxy Buds 2 Pro Preorder Galaxy Watch 5 Galaxy Z Fold 4 Dell XPS 13 Plus Review Galaxy Z Fold 4 Preorder Apple TV 4K vs. Roku Ultra Galaxy Z Flip 3 Price Cut
Want CNET to notify you of price drops and the latest stories?
No, thank you

CyberSource to buy Paylinx

CyberSource Corp. (Nasdaq: CYBS) said Monday it will buy PaylinX Corporation to extend its e-commerce transaction capabilities in a deal worth about $138.6 million.

Shares in CyberSource, a provider of e-commerce transaction services, closed at 16 1/2 Friday. The stock got a pop in July when analysts initiated coverage with bullish ratings.

CyberSource has agreed to issue about 8.4 million shares of its common stock to acquire all of the outstanding stock of PaylinX, and will assume PaylinX's outstanding stock options and warrants. That values the deal at around $138.6 million based on CyberSource's Friday closing price.

The transaction will be accounted for as a purchase and is subject to stockholder and regulatory approval. John "Jack" McDonnell, Jr., PaylinX chairman and CEO, will join CyberSource's Board of Directors.

The PaylinX payment server is a platform for real-time credit card transactions. The new software will give CyberSource's customers a choice between its in-house payment system, or its existing suite of outsourced services, and will be used across industries such as retail, automotive, insurance and state and local governments.

CyberSource's competitors include Cybercash (Nasdaq: CYCH) and OpenMarket (Nasdaq: OMKT), according to Hoover's Online.