Lightbridge to Buy InfoSpace Unit for $82 Million

Some backend payments news: Lightbridge, a transaction processing company, is acquiring InfoSpace’s payment processing services unit Authorize.net for $82 million in cash.

Authorize.Net had 2003 revenue of $27.8 million. Lightbridge said it will maintain all of Authorize.Net’s 117 employees and management and will continue to market the service under its current name.

In a separate release, InfoSpace confirmed the deal, saying it is tightening its focus on two businesses: search & directory and mobile..

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