CyberSource To Acquire PaylinX

CyberSource Corp. has signed a definitive agreement to acquire PaylinX Corp. The acquisition will allow CyberSource, a provider of "mission-critical" e-commerce transaction services, to provide businesses selling through multiple channels with an enterprisewide payment software solution that has fully integrated access to CyberSource's suite of services. Mountain View, Calif.-based CyberSource has agreed to issue approximately 8.4 million shares of its common stock to acquire all of the outstanding stock of PaylinX and will assume PaylinX's outstanding stock options and warrants. The transaction, valued at around $142.3 million, will be accounted for as a purchase and is subject to stockholder and regulatory approval. John McDonnell Jr., PaylinX chairman and CEO, is expected to join CyberSource's board upon the closing of the acquisition. PaylinX provides multi-channel enterprise payment solutions. The PaylinX payment server manages the authorization and settlement of credit card and other payment transactions in real-time through connections with third-party processors and merchant-acquiring banks. The solution enables businesses to accept and process payment transactions through multiple enterprise sales channels--Web storefronts, call centers, interactive voice response systems, in-store point-of-sale systems and kiosks--through a single uniform payment architecture. St. Louis-based PaylinX raised $32 million in its most recent round of funding and is backed by Chase H&Q Technology Fund, BOME Investors, Capital Southwest, CNF Investments, Dunluce Investors, Fitzgerald Partners, Gateway Partners, Hickory Venture Capital Group, Jemison Investment, McDonnell & Associates, Orchard Capital Group, PSI Net and the Southeastern Technology Fund.