Visa reportedly in negotiations to acquire Featurespace in potential £700m deal - : Fintech news
Summary
Payments giant Visa is reportedly in talks to buy UK-based fraud detection firm Featurespace in a deal potentially valued at more than £700 million, according to Sky News. Founded in 2008 by Professor Bill Fitzgerald and Dave Excell, Featurespace provides enterprise-level financial crime prevention solutions, specialising in anti-money laundering (AML) and fraud detection. Sky News reports that a source close to the British firm believes the deal could be valued at around £700 million. However, while the talks are said to be at an advanced stage, the report adds that sources say no formal agreement has been reached and any potential deal could still fall through. The news follows Visa’s recent announcement of several upcoming digital product innovations, including data tokens, passkeys, and AI-driven fraud management solutions, all set to be launched later this year.
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