Simility, a developer of fraud detection software, is set to be acquired by corporate investor PayPal for $120m.
Payment services provider PayPal has agreed to acquire US-based fraud detection software developer and portfolio company Simility for $120m in cash.
Simility’s software, the Adaptive Decisioning Platform, detects and prevents fraudulent transactions in real time by combining artificial intelligence and big data analytics. It can also be manually fine-tuned for specific scenarios.
PayPal will integrate the technology into its own offering, giving merchants on its service access to the platform through their existing account management dashboard.
Simility had raised $25m…
