Lightbridge Acquires InfoSpace's Authorize.net

Pamela D.A. Reeve, President and Chief Executive Officer of Lightbridge stated, "This is a significant step forward in our strategy for diversified growth. Authorize.Net is a growing, profitable business. Through this acquisition, we are expanding our customer transaction business to include online payment processing, while reaching an entirely new customer base of small- to medium-sized merchants. As a result of this transaction, Lightbridge will be a leader in both the growing eCommerce and wireless markets. We are confident Lightbridge's risk and fraud assessment technologies coupled with Authorize.Net's payment gateway technology will position the Company for exciting new opportunities in transaction services for a variety of customer markets."

Lightbridge will be paying slightly more than three times trailing 12 month revenue for the Authorize.net business. More in Lightbridge's press release announcing the acquisition.