Paul Weiss Reps Mastercard's $850M Digital Security Co. Buy
By Emma Whitford (April 19, 2021, 5:47 PM EDT) -- Mastercard plans to acquire Seattle-based digital security company Ekata in an $850 million deal steered by Paul Weiss and DLA Piper, which the company said will improve its online payment identity verification capabilities.
Founded in 1997, Ekata works with travel companies, financial institutions and digital currency platforms to confirm purchaser identities in online transactions, according to Monday's announcement. Its machine learning capabilities will compliment Mastercard's existing digital identity and anti-fraud programs, the company said.
The combined companies will offer stronger identity verification at the account-opening stage and help clients root out fraud before a payment is authorized, the statement said....
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