Visa Inc. Completes Acquisition of PlaySpan Inc.
SAN FRANCISCO, March 1, 2011 /PRNewswire via COMTEX/ --
Visa Inc. (NYSE: V) announced today that it has completed its acquisition of PlaySpan Inc., a privately held company whose payments platform handlestransactions for digital goods in online games, digital media and social networks around the world.
This move complements Visa's 2010 CyberSource acquisition and extends the company's capabilities into one of the fastest-growing segments of eCommerce - digital and mobile commerce.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by the term "expected" and similar references to the future. Examples of such forward-looking statements include, but are not limited to, the timing of the completion of the acquisition and its prospective dilutive effect on Visa's earnings per share. By their nature, forward-looking statements: (i) speak only as of the date they are made, (ii) are neither statements of historical fact nor guarantees of future performance and (iii) are subject to risks, uncertainties, assumptions and changes in circumstances that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from those forward-looking statements because of a variety of factors, including the pace of regulatory approval, the risk that the new business will not be successfully integrated with Visa's, the costs associated with the acquisition, slowed growth of eCommerce and the other factors discussed under the heading "Risk Factors" in our most recent Annual Report on Form 10-K and our most recent Quarterly Report on Form 10-Q. You should not place undue reliance on such statements. Unless required to do so by law, we do not intend to update or revise any forward-looking statement because of new information or future developments or otherwise.
SOURCE Visa Inc.