CyberSource Stockholders Approve Acquisition by Visa
MOUNTAIN VIEW, Calif. – July 20, 2010
CyberSource Corporation (NASDAQ: CYBS) announced that, at its special stockholders meeting held earlier today, its stockholders approved the acquisition of CyberSource by Visa Inc. (NYSE: V) ("Visa"). Approximately 71.76% percent of the outstanding shares were voted, of which approximately 99.77% were voted in favor of the acquisition. Subject to the satisfaction of customary closing conditions, the acquisition is expected to close July 21, 2010.
CyberSource solutions enable electronic payment processing for Web, call center, and POS environments. CyberSource also offers industry-leading risk management and payment security solutions for merchants accepting card-not-present transactions. CyberSource Professional Services designs, integrates, and optimizes commerce transaction processing systems. Approximately 305,000 businesses use CyberSource solutions, including half the companies comprising the Dow Jones Industrial Average. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, Singapore, the United Kingdom, and other locations in the United States including Bellevue, Washington and American Fork, Utah. For more information on CyberSource please visit www.cybersource.com or email firstname.lastname@example.org. For more information on Authorize.Net small business solutions, please visit www.authorize.net or email email@example.com.
Cautionary Statement under the Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. The reader is cautioned not to place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Visa and CyberSource. The forward-looking statement in this release addresses the timing of the pending acquisition by Visa of CyberSource. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: matters arising in connection with the parties' efforts to comply with and satisfy applicable closing conditions relating to the transaction; and other events that could adversely impact the completion of the transaction, including industry or economic conditions outside of our control. In addition, actual results are subject to other risks and uncertainties that relate more broadly to Visa Inc.'s overall business, including those more fully described in Visa Inc.'s filings with the SEC including its annual report on Form 10-K for the fiscal year ended September 30, 2009, and its quarterly report filed on Form 10-Q for the first quarter of 2010, and CyberSource's overall business and financial condition, including those more fully described in CyberSource's filings with the SEC including its annual report on Form 10-K for the fiscal year ended December 31, 2009, and its quarterly reports filed on Form 10-Q for the current fiscal year. The forward-looking statement in this release speaks only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law.
Additional Information about the Merger and Where to Find It
In connection with the proposed merger, CyberSource filed a definitive proxy statement with the SEC on June 11, 2010. The materials filed by CyberSource with the SEC may be obtained free of charge at the SEC's web site at www.sec.gov. Investors and stockholders also may obtain free copies of the proxy statement from CyberSource by contacting its investor relations department by telephone at (650) 965-6000 or by mail at CyberSource Corporation, Investor Relations, 1295 Charleston Road, Mountain View, California 94043. Investors and security holders of CyberSource are urged to read the proxy statement and the other relevant materials when they become available before making any investment decision with respect to the proposed merger because they will contain important information about the merger and the parties to the merger.
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