Visa is in talks about a £700 million acquisition of a British fraud detection company
A bid from Visa for the Cambridge-based fraudbuster could value Featurespace, which was set up in 2008, at approximately £700m, Sky News learns.
Sky News has learnt that Featurespace, which was founded in 2008 and is headquartered in Cambridge, is in advanced negotiations about a deal.
Estimates of its potential value varied this weekend, but one insider said it could be worth more than £700m, while another said it could ultimately be worth less than that.
Sources cautioned, however, that a deal had yet to be formally agreed and could still fall apart.
News of the prospective deal comes just days after Mr Mike Lynch’s death on Bayesian, the superyacht he owned. Mr Lynch’s investment firm, Invoke Capital, owns a small stake in Featurespace, while he served as a non-executive director of the company for 11 years.
In a tribute to Mr Lynch published on the company’s website, Featurespace said: „It is a high statistical probability that Featurespace wouldn’t be a thriving technology company without Mike (…) Mike’s personal investment in Featurespace supported the development of an invention that has proved fundamental in the progress of AI and he served as a Non-Executive Director for over 10 years from 2008 – 2019.”
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
