Today, Mastercard expanded its cybersecurity services with an agreement to acquire global threat intelligence company Recorded Future from Insight Partners for $2.65 billion. The acquisition supports the insights and intelligence used to secure the digital economy, including the payments ecosystem and beyond.
Recorded Future is one of the most significant threat intelligence companies, with more than 1,900 clients across 75 countries, including the governments of 45 countries and over 50% of the Fortune 100. And the need for global cyber defense has never been greater. With new technologies are introduced and adopted, there is a rising risk of cyber threats. This year alone, cybercrime is projected to cost trillions of dollars.
Recorded Future offers real-time visibility into potential threats by analyzing a broad set of data sources to provide insights that enable its customers to take action to mitigate risks. And this ability – when combined with with Recorded Future’s use of AI and other sophisticated technologies – will add to Mastercard’s identity, fraud prevention, real-time decisioning and cybersecurity services, bringing expanded threat intelligence capabilities to its network of merchants and financial institutions.
Mastercard and Recorded Future utilize AI to analyze billions of data points to identify potential threats, helping to protect people and businesses. By bringing these teams, technology and expertise together will enable the development of even more robust practices and drive greater synergies in cybersecurity and intelligence, reinforcing the Mastercard brand as a trust mark.
Recorded Future has been an early adopter in using AI-powered analytics to generate insights that are easily accessible to and understood by customers. And the technology also increases Recorded Future customers’ efficiency and effectiveness in using the platform to inform how they address the risks identified.
Recorded Future and Mastercard already collaborate on an AI-supported service that alerts financial institutions more quickly and with greater accuracy when a card is likely to have been compromised. And since its launch earlier this year, the service has doubled the rate in which compromised cards are identified, as compared to the same time period last year.
The deal, which is anticipated to close by the first quarter of 2025, is subject to regulatory review and other customary closing conditions.
KEY QUOTES:
“Trust is the foundation of any relationship. Recorded Future adds to how we deliver that greater peace of mind before, during and after the payment transaction. Together we will innovate faster, create smarter models and anticipate emerging threats before cyberattacks can take place – in payments and beyond.”
– Craig Vosburg, Chief Services Officer at Mastercard
“Fifteen years ago, we created Recorded Future with a simple goal to secure the world with intelligence. By joining Mastercard, we see an opportunity to help more businesses and governments determine the steps to realize their full potential – and to enable everyone to feel safer in their daily lives.”
– Christopher Ahlberg, CEO of Recorded Future
