India, Aug. 3 -- Payment technology major Visa inc. (V) announced Monday a definitive agreement to acquire BioCatch, a provider of behavioral-first fraud intelligence solutions, from funds advised by Permira and other shareholders for $2.4 billion in cash.
In pre-market activity, Visa shares were gaining around 1.38 percent, trading at $371.21.
The acquisition is expected to close by the end of Visa's fiscal second quarter of 2027, subject to customary closing conditions and regulatory approvals.
The transaction will provide significant benefits to its financial institution clients, consumers and the wider payments industry.
BioCatch develops artificial intelligence and machine learning-based solutions that analyze thousands of applicat...