PayPal acquires Israeli company that can predict future malware

PayPal acquires Israeli company that can predict future malware

blogger-avatarby Mariella Moon | @mariella_moon | March 11th 2015 at 6:05 am
http://www.engadget.com/2015/03/11/paypal-security-center-israel/

It’s always good news when a service that processes a lot of cash improves its security measures. PayPal, for instance, has just established a security center in Israel by acquiring a local company called CyActive. The company already has a Fraud and Risk Detection Center in Tel Aviv, but CyActive is a totally different beast: it “specializes in technology that can predict how malware will develop.” It’s sort of like Minority Report’s PreCrime, except it uses predictive analytics instead of human precogs to foresee new cybersecurity threats. The startup’s employees will now be in charge of implementing technology that will protect the payment platform from future cyberattacks.

The online payment processor is far from being the first company to expand into Israel by acquiring startups. Israel, especially Tel Aviv, has a thriving tech community, many of which specialize in cybersecurity. PayPal didn’t mention how much it paid to snap up CyActive, but earlier reports suggest that the acquisition cost the company $60 million.