TechTaffy

tech:

taffy

PayPal to acquire Simility for $120M

By TechTaffy Desk

PayPal has agreed to acquire Simility, a fraud prevention and risk management company that uses machine learning and device intelligence, for $120 million. Subject to customary closing conditions, the transaction is expected to close in the third quarter of 2018.

Digital commerce has exploded, and fraudsters have taken note, adapting and developing new methods to carry out their crimes,” said Bill Ready, chief operating officer, PayPal. “Together with Simility, we will be able to put more control in the hands of our merchants to fight fraud while helping make commerce experiences faster and more secure.”

Following the close of the transaction, merchants on the PayPal platform will gain access to fraud tools that can be customized to reflect the nuances of their businesses through their existing account management dashboard, said PayPal.

[Image courtesy: Simility]

Just in

Around the web

U.S. bans noncompete agreements for nearly all jobs — NPR

The Federal Trade Commission narrowly voted Tuesday to ban nearly all noncompetes, employment agreements that typically prevent workers from joining competing businesses or launching ones of their own, writes Andrea Hsu. 
AI

The Coca-Cola Company commits $1.1B to Microsoft Cloud and AI partnership

The Coca-Cola Company and Microsoft announced a five-year partnership on Tuesday. As part of the collaboration, Coca-Cola has committed $1.1 billion to Microsoft Cloud and generative AI capabilities. 
Industry

Silicon Labs appoints Radhika Chennakeshavula as CIO

Silicon Labs has appointed Radhika Chennakeshavula as chief information officer.
Around the web

Apple deletes WhatsApp, Threads from China app store on orders from Beijing — CNN

Apple has removed WhatsApp and Threads from its app store in China, following an order from the country’s internet watchdog, writes Juliana Liu.
Industry

Singtel, Vonage partner to integrate Paragon platform

Singtel has announced a partnership with Vonage, a cloud communications company and subsidiary of Ericsson, to help enterprises and telcos innovate and scale their services through Singtel's orchestration platform, Paragon.