CyberSource was a leading developer and provider of real-time, or on-demand, e- commerce transaction services. The Company offered services to online merchants for global payment processing, fraud prevention, tax calculation, export compliance, territory management, delivery address verification and fulfillment management. CyberSource was acquired in 2010 by Visa, Inc.
In addition to raising capital for growth, management and shareholders wanted to create a public market for its stock to facilitate future acquisitions and enhance the attraction of its employee stock options.
A principal of Carter Morse & Mathias acted as a managing underwriter on CyberSource’s IPO and follow on offering.