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Visa Buys CyberSource For $2 Billion
Visa said today it has agreed to buy online payment processing firm CyberSource in an effort to strengthen its ecommerce business. Visa said it will pay $26 a share or about $2 billion for CyberSource. The deal is expected to close in Visa’s fiscal fourth quarter. The transaction will dilute Visa’s earning for that quarter by about 4 or 5 cents a share.