Visa reportedly in negotiations to acquire Featurespace in potential £700m deal
Payments giant Visa is reportedly in talks to buy UK-based fraud detection firm Featurespace in a deal potentially valued at more than £700 million, according to Sky News.
Featurespace reportedly in talks over potential sale to Visa
Founded in 2008 by Professor Bill Fitzgerald and Dave Excell, Featurespace provides enterprise-level financial crime prevention solutions, specialising in anti-money laundering (AML) and fraud detection.
Headquartered in Cambridge, the company’s flagship ARIC Risk Hub platform features real-time machine learning software that can evaluate risk and combat fraud and financial crime across over 180 countries.
The company’s technology is currently being used by the likes of HSBC, Elavon, Danske Bank, and more.
Sky News reports that a source close to the British firm believes the deal could be valued at around £700 million. However, while the talks are said to be at an advanced stage, the report adds that sources say no formal agreement has been reached and any potential deal could still fall through.
The news follows Visa’s recent announcement of several upcoming digital product innovations, including data tokens, passkeys, and AI-driven fraud management solutions, all set to be launched later this year.
Last December, Visa reached an agreement to purchase a majority stake in Mexican payment processor Prosa.
