Visa Completes £700m Acquisition of Featurespace
Deal News | Dec 19, 2024 | Business Cloud
Visa has successfully completed its acquisition of Featurespace, a Cambridge University spinout known for its real-time AI technology in transaction fraud detection, for £700 million. Featurespace is a prominent name in the RegTech space, widely recognized for its advanced algorithmic solutions that safeguard institutions such as HSBC, NatWest, and Worldpay from fraudulent activities. This acquisition sees Featurespace integrated into Visa's risk and identity solutions unit, enhancing Visa's offerings in fraud protection. The strategic move is celebrated by both companies as a transformative step towards setting a new standard in AI-powered fraud prevention, leveraging combined expertise to address the complexities of current and emerging threats in the payments sector.
Sectors
- RegTech
- Financial Services
- Artificial Intelligence
Geography
- United Kingdom – Featurespace is a UK-based company, originating from Cambridge University.
- United States – Visa, the acquirer, is headquartered in the United States.
Industry
- RegTech – The article centers around Featurespace, a company in the Regulatory Technology sector, offering AI-driven fraud detection solutions.
- Financial Services – Visa operates within the financial services industry, providing payment solutions and enhancing its offerings with this acquisition.
- Artificial Intelligence – Featurespace is recognized for its innovative AI technology used in fraud prevention in transaction data.
Financials
- £700 million – Reported acquisition price for Featurespace by Visa.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Visa | Bidding Company/Buyer | Company | A leading global payment technology company acquiring Featurespace. |
| Featurespace | Target Company | Company | A RegTech company specializing in AI-driven fraud protection solutions. |
| Martina King | CEO of Featurespace | Person | CEO leading Featurespace at the time of acquisition. |
| Dave Excell | Founder of Featurespace | Person | Founder contributing strategic insights about integration with Visa. |
| Antony Cahill | President, Value-Added Services at Visa | Person | Visa executive overseeing value-added services, commenting on the acquisition. |