Located in one of the world's top cybersecurity hubs, this new security center will allow us to tap into the country's cutting-edge technology and top cybersecurity talent,Besides jumpstarting the security center, Barrese said the acquisition of CyActive will add 'future-proof technology' to PayPal's security platform. CyActive, which can predict how malicious software will develop and offer companies detection and prevention, had received a strategic investment from the venture capital unit of Germany company Siemens in September. This is PayPal's second acquisition in Israel after its acquisition of Fraud Services which monitors financial fraud.PayPal also has a fraud management center in Tel Aviv.
PayPal a unit of the online shopping site eBay has acquired an Israeli start-up CyActive and has opened a development center in the capital of Israel, Tel Aviv.The center is a state-of-the-art Cyber security based research center. PayPal is slated to split from its parent company by the end of this year has not disclosed the amount of the acquisition but according to the Israeli Media the deal is slated to be around $60 million. PayPal's chief technology officer James Barrese wrote in a blog on the company's website.