Online payments company PayPal, a unit of eBay, is establishing a cyber security center in Israel and has bought local start-up CyActive to help launch the development.
PayPal, which is slated to split from eBay later this year, did not disclose financial details but Israeli media have said the acquisition was worth $60 million.
"Located in one of the world's top cybersecurity hubs, this new security center will allow us to tap into the country's cutting-edge technology and top cybersecurity talent," PayPal chief technology officer James Barrese wrote in a blog on the company's website.
CyActive, which can predict how malicious software will develop and offer companies detection and prevention, had received a strategic investment from the venture capital unit of