Spectrum Equity-backed Ethoca to be acquired by Mastercard
Mastercard (NYSE: MA) has agreed to acquire Ethoca, a Toronto-based provider of technology solutions that address digital commerce fraud. Terms weren't released for the deal, which is expected to close in Q2 2019. Founded in 2005 by CEO Andre Edelbrock, Ethoca supports more than 5,400 merchants and 4,000 card issuers worldwide in identifying and resolving fraudulent transactions. Mastercard said the acquisition will add to its cyber strategy and help increase protection in the digital space. Ethoca is backed by Spectrum Equity, Pivot Investment Partners and Difference Capital Financial. Spectrum, a U.S. growth equity firm, led a US$45 million minority investment in the company in 2015.
12 March 2019•3 mins read
