PayPal Confirms It Bought CyActive, Will Set Up Israeli R&D Center

PayPal says new security center will allow company to tap into Israel's 'cutting-edge technology and top cybersecurity talent.'

Inbal Orpaz
Inbal Orpaz
Send in e-mailSend in e-mail
Send in e-mailSend in e-mail
PayPal signage is displayed in front of eBay Inc. headquarters in San Jose, California, U.S.
PayPal signage is displayed in front of eBay Inc. headquarters in San Jose, California, U.S.Credit: Bloomberg
Inbal Orpaz
Inbal Orpaz

PayPal on Tuesday confirmed reports that it would open a research and development center in Israel and that it had bought the Israeli cybersecurity startup CyActive.

“We’ve made the strategic decision to expand our security efforts by establishing a security center in Israel. 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,” James Barrese, chief technology officer for PayPal, said in a blog.

“To help jumpstart our security center, I’m also thrilled to announce that we’ve acquired CyActive, a cybersecurity firm that specializes in technology that can predict how malware will develop,” he said.

PayPal, a unit of Ebay, didn’t say what it paid for CyActive, but sources estimated it was about $60 million. CyActive was formed two years ago and raised just $2 million in capital, most of it from the venture capital fund JVP.

Click the alert icon to follow topics:

SUBSCRIBERS JOIN THE CONVERSATION FASTER

Automatic approval of subscriber comments.

$1 for the first month

SUBSCRIBE
Already signed up? LOG IN

A family grieves outside the SSGT Willie de Leon Civic Center following the mass shooting at Robb Elementary School in Uvalde, Texas on Wednesday.

Israeli PM Offers Condolences After Texas Gunman Kills 21 at Elementary School

U.S. President Joe Biden, this week.

Biden Decides to Keep Iran's Revolutionary Guards on Terror List, Says Report

ADL CEO Jonathan Greenblatt.

Progressive Jews Urge ADL Chief to Apologize for Calling Out Democratic Activist

Democratic Sen. Bernie Sanders with Jessica Cisneros in San Antonio last week.

It’s AIPAC vs. Bernie Sanders in Too-close-to-call Texas Democratic Runoff

U.S. President Joe Biden. Making a historic pivot to Asia.

Biden Does What His Three Predecessors Talked About Yet Failed to Do

Meir Kahane addressing his followers during a demonstration in Jerusalem, in 1984.

Why the U.S. Removed Kahane Chai From Terrorist Blacklist