Cardsystems assets being sold to CyberSource

CyberSource, a California-based electronic transactions company, has announced that it signed a letter of intent to buy the assets of embattled Cardsystems. The sale is supposed to close sometime in the fourth quarter of this year and the likely purchaser is in talks with Visa and Amex to take over the transactions that are slated to be terminated in October due to the high-profile security breach at Cardsystems. See: CyberSource seeks to buy CardSystems.