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Jun 21, 2018
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SAN JOSE, Calif. --(BUSINESS WIRE)-- PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has agreed to acquire Simility, a leading fraud prevention and risk management platform, for a purchase price of $120 million in cash, subject to certain adjustments. The acquisition of Simility will enhance PayPal's ability to deliver fraud prevention and risk management solutions to merchants globally.

This press release features multimedia. View the full release here:

to Acquire Simility to Expand Global Fraud Prevention and Risk Management Capabilities for Merchants (Graphic: Business Wire)

"Digital commerce has exploded, and fraudsters have taken note, adapting and developing new methods to carry out their crimes," said Bill Ready, chief operating officer, PayPal . "PayPal has been at the forefront of developing innovative fraud prevention and risk management solutions for nearly 20 years, and now, merchants will be able to configure those solutions to manage the unique complexities of their businesses. Together with Simility, we will be able to put more control in the hands of our merchants to fight fraud while helping make commerce experiences faster and more secure."

Following the close of the transaction, merchants on the PayPal platform will gain access to best-in-class fraud tools that can be customized to reflect the nuances of their businesses through their existing account management dashboard. These machine learning-powered tools, which dynamically adapt and evolve with each transaction, will enhance payment experiences for merchants and their customers by helping to reduce fraudulent payment activity and, in some cases, verifying transactions that may have otherwise failed.

"Our vision for Simility was to create an adaptive risk management platform that empowers organizations operating in a digital world to manage an evolving fraud and risk landscape," said Rahul Pangam, co-founder and CEO, Simility. "We are excited to enter the next phase of our growth with PayPal and are thrilled to join them to help drive the next generation of payment and commerce solutions while scaling our business together."


The Equinox is currently looking for a Copy Editor and Student Life Editor for the 2017/2018school year! Click here to apply!

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Course registration is an intense time for students, especially rising juniors who are given the last registration slot times.

Laura Romaniello / art director

Contrary to previous years, some sophomores are feeling anxiety paired with limited course offerings for the 2018-2019 school year in their major: communication studies.

The communication major requires students to take required core courses, like Senior Project, a research course and Ethics, but all students also need three electives in the department.

Some underclassmen students are noticing the limited number of electives offered.

Sophomore communication major Mary Winn said her biggest issue with registering for next year’s classes is that there are many choices on Student Planning for communication and philosophy electives, but only two or three will be offered.

She’s also worried that the classes she needs for the major will fill up before she can even register because she has the last registration slot.

Sophomores might be noticing the pinch of a lack of course offerings, but senior Vicky Papadopoulos said she did not have that problem when registering for courses in previous years.

Papadopoulos is a senior communication major who declared in spring of her first year. She said communication electives were easy for her to find. There were even times where she was stuck between a few options of electives to choose from because there were many options.

She said she recommends accessing resources like drop-in advising through the Academic and Career Advising department at KSC and speaking with faculty advisors in the department.

Winn asked her advisor for help, and said they were able to figure out what classes she should take.

However, once she and her advisor planned out her schedule, she looked on Student Planning again and saw that one of the classes she was going to take, Intercultural Communication, wasn’t offered anymore. She said that threw off her classes for the rest of the fall.

Winn plans on meeting with her advisor again, but she is still discouraged. “A lot of the communication classes will be scheduled at the same time,” she said, “so I can’t even fit what’s offered.”