Visa Acquires Santa Clara-Based PlaySpan For $190M In Cash
SAN FRANCISCO (AP) - Visa Inc. said Wednesday it is buying PlaySpan Inc., which handles online transactions for digital goods, for $190 million in cash.
Santa Clara-based PlaySpan provides technology to merchants, which allows consumers to make purchases online for items such as game credits, premium memberships and digital goods.
The deal complements Visa's CyberSource acquisition last year and expands its capabilities in digital and mobile commerce.
Visa expects the acquisition to dent 2011 net income. Its fiscal year ends Sept. 30.
The transaction is expected to close in Visa's fiscal second quarter.
Shares of Visa slipped 15 cents to $74.27 in morning trading Wednesday.
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