Mastercard To Buy Threat Intelligence Company Recorded Future For $2.65 Billion

2024-09-12 03:12:30

(MENAFN- Khaleej Times) Mastercard has agreed to buy threat intelligence company Recorded Future from private equity firm Insight Partners for $2.65 billion, the payments company said on Thursday.

The rapid adoption of new technologies has upped the risk of cyber threats, with companies increasingly facing hacking or ransomware attacks. Cyberattacks on U.S. utility companies, for instance, surged 70% in 2024.

Recorded Future, which uses artificial intelligence-powered analytics to identify potential threats, already collaborates with Mastercard on an AI-supported service that alerts financial institutions when a card is likely compromised.

The acquisition will bring expanded threat intelligence capabilities to the New York-based payments firm, which recorded $9 trillion in gross dollar volumes last year, a metric that represents the total dollar value of all transactions processed.

Mastercard currently offers cybersecurity services such as identity fraud prevention and real-time decision-making, among others, to its clients.

Recorded Future serves over 1,900 clients across 75 countries, including the governments of 45 countries.

The deal is expected to close by the first quarter of 2025.

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