- Mastercard announced it is buying RiskRecon, which is a leading provider of AI and data analytics solutions
Today Mastercard announced it is buying RiskRecon — which is a leading provider of AI and data analytics solutions that support companies in protecting their cyber systems and infrastructure. The terms of the deal were undisclosed. And this transaction — which is anticipated to close in the first quarter of 2020 — is subject to customary closing conditions.
Cybercrime has been a major problem for businesses. When a large-scale data breach and ransomware attack happens, billions of records become at risk every year and they lose trust with consumers.
“The innovations from the talented team at RiskRecon will further accelerate our suite of cyber solutions designed to help financial institutions, merchants and governments secure their digital assets,” said Mastercard president of cyber and intelligence Ajay Bhalla. “Through a powerful combination of AI and data-driven advanced technology, RiskRecon offers an exciting opportunity to complement our existing strategy and technology to secure the cyber space.”
Using RiskRecon’s scanning and evaluation technologies, companies are able to proactively manage cyber risks, better safeguard critical intellectual property and consumer and payment data.
Along with supporting Mastercard solutions, RiskRecon will continue providing cybersecurity solutions across a broader set of industries, including healthcare and manufacturing.
“Mastercard has been one of those brands that has stood out as a true innovator, focusing on the real problems of real businesses,” added RiskRecon founder and CEO Kelly White. “By becoming part of their team, we have an opportunity to scale our solution and help companies in new industries and geographies take steps to better manage their cybersecurity risk.”