PayPal Establishes New Security Center, Acquiring CyActive
By: James Barrese, Chief Technology Officer and Senior Vice President, Payment Services, PayPal
Security has always been a top priority at PayPal. For more than 15 years, we’ve been committed to keeping millions of people’s money safer online. While we have industry-leading fraud models and verification techniques, and a world-class security team, we’re always looking for ways to make our systems even more secure to stay well ahead of cybersecurity threats.
That’s why I’m excited to announce today that 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. Our goal is to extend our global security leadership, and bolster our efforts in predictive threat detection and prevention. The creation of the security center is an extension of the capabilities we have already developed through the success of our Fraud and Risk Detection Center in Tel Aviv.
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. The acquisition of CyActive will bring great talent and immediately add “future-proof” technology to PayPal’s world-class security platform. With CyActive, we’ll have even more ways to proactively predict and prevent security threats from ever affecting our customers.
Our new security center is an important milestone for us as security is in our DNA at PayPal - it’s a priority that is deeply integrated into every business and product decision we make each and every day.
This announcement contains forward-looking statements that involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, the receipt and timing of regulatory approval for the transaction, the possibility that the transaction may not close, PayPal’s plans for CyActive, the ability of PayPal to utilize CyActive technology to prevent cybersecurity threats and predict the development of malware, the reaction of CyActive’s customers and partners and third parties to the transaction and the possibility that integration following the transaction may be more difficult than expected. More information about potential factors which could affect our business and results is included in eBay Inc.'s Annual Report on Form 10-K for the year ended December 31, 2014, its Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K, and other periodic filings. All forward-looking statements are based on information available to eBay on the date hereof, and eBay assumes no obligation to update such statements.