Mastercard announces acquisition of cybersecurity company Recorded Future for USD2.65B
Date
9/15/2024 3:51:59 AM
(MENAFN) On Thursday, Mastercard announced its decision to acquire the cybersecurity and global threat intelligence firm Recorded Future for USD2.65 billion. This Acquisition aims to enhance the company's capabilities in securing the digital economy, particularly within the payments ecosystem and beyond. Mastercard's statement highlights that the addition of Recorded Future will strengthen the insights and intelligence used to protect against digital threats, reflecting the company's commitment to advancing cybersecurity measures.
Recorded Future serves a broad client base, including over 1,900 clients in 75 countries, with notable clients including the governments of 45 countries and more than half of the Fortune 100 companies. The firm’s extensive reach underscores its significant role in the cybersecurity landscape. According to Mastercard, the global cost of cybercrime is projected to reach USD9.2 trillion this year, underscoring the urgent need for enhanced cybersecurity measures.
Craig Vosburg, Mastercard’s Chief Services Officer, emphasized that the acquisition will enhance the company's ability to provide greater security and peace of mind throughout the payment transaction process. Vosburg highlighted that the partnership will drive faster innovation, smarter security models, and better anticipation of emerging threats, both in the payments sector and beyond.
Christopher Ahlberg, CEO of Recorded Future, expressed optimism about the potential of the merger to extend the company's capabilities to help more businesses and governments. Ahlberg noted that joining forces with Mastercard will enable the company to enhance security measures and contribute to a safer environment for users in their daily lives. The transaction is expected to be finalized by the first quarter of 2025.
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