Visa reportedly in negotiations to acquire Featurespace in potential £700m deal

Potential Acquisition: Visa is reportedly in advanced talks to acquire UK-based fraud detection firm Featurespace in a deal potentially valued at over £700 million, according to Sky News. However, no formal agreement has been reached, and the deal could still fall through.
Company Overview: Featurespace, founded in 2008 by Professor Bill Fitzgerald and Dave Excell, specializes in enterprise-level financial crime prevention, focusing on anti-money laundering (AML) and fraud detection.
Technology and Clients: The company is headquartered in Cambridge and is known for its ARIC Risk Hub platform, which uses real-time machine learning to evaluate risk and prevent fraud and financial crime across more than 180 countries. Featurespace’s technology is used by major clients like HSBC, Elavon, and Danske Bank.
Visa’s Recent Innovations: The news of the potential acquisition aligns with Visa’s recent announcement of upcoming digital product innovations, including data tokens, passkeys, and AI-driven fraud management solutions.
Previous Acquisition: Last December, Visa acquired a majority stake in the Mexican payment processor Prosa, indicating a continued strategy to expand its capabilities in payment processing and fraud management.