Ant Financial, the financial affiliate of e-commerce giant Alibaba, has acquired U.S mobile eye verification startup EyeVerify, Inc., according to an announcement published on Tuesday from the latter.

The companies did not disclose the cost of the acquisition, though sources who spoke to Bloomberg and Fortune value the deal at $70 million USD and $100 million USD, respectively.

The acquisition wasn’t surprising given the history between the two companies. Ant Financial has been using EyeVerify’s authentication technologies for months under a licensing agreement. According to EyeVerify’s press release, the startup’s technology was previously integrated into Ant Fianncial’s payment authentication platform. The tie-up will allow EyeVerify’s technology to be more widely used in Ant Financial’s products.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.