American Express to Acquire Accertify

American Express has announced it has agreed to acquire Accertify, a "leading provider of solutions that help merchants combat fraudulent online and other card-not-present transactions."

Accertify offers merchants the option to outsource their end-to-end fraud management process. Many of its customers have quickly achieved significant gains in the efficiency, accuracy and productivity of their fraud prevention efforts with reductions of 50% or more in their fraud losses and customer complaints due to fraud.

The purchase price is expected to be approximately $150 million. Upon closing, Accertify would operate as a wholly owned subsidiary of American Express.