Visa to Pay $2.4 Billion for BioCatch — an 85% Markup Over Permira's 2024 Valuation

Visa agreed to buy behavioral biometrics firm BioCatch for $2.4 billion, roughly 85% above the $1.3 billion valuation at which private equity firm Permira acquired a majority stake in May 2024. That gap — $1.1 billion in under two and a half years —reflects either operational scaling, a strategic premium, or both. The price signals how urgently card networks want fraud-detection tools they control directly.