New York, Friday, September 13, 2024— Mastercard has agreed to acquire threat intelligence firm Recorded Future from Insight Partners for $2.65 billion.
The acquisition will significantly bolster Mastercard’s cybersecurity capabilities, aligning with the company’s push toward expanding value-added services (VAS).
This deal brings enhanced threat intelligence to Mastercard, which processed $9 trillion in gross dollar volumes last year.
The increasing use of technology has exposed companies to higher risks of cyberattacks, including hacking and ransomware incidents. Recorded Future uses AI-powered analytics to identify potential threats and has been working with Mastercard to alert financial institutions about compromised cards.
Mastercard’s generative AI technology has already doubled the rate at which compromised cards are detected compared to last year. The Recorded Future acquisition will further enhance the company’s cybersecurity solutions, which include identity fraud prevention and real-time decision-making services.
Recorded Future, acquired by Insight Partners in 2019 for over $780 million, serves over 1,900 clients in 75 countries, including governments of 45 nations.
