Sept 12 (Askume) – Payments company Mastercard (MA.N) said on Thursday it had agreed to acquire threat intelligence firm Recorded Future from private equity firm Insight Partners for $2.65 billion.
The rapid adoption of new technologies increases the risk of cyber threats, leaving companies vulnerable to hackers or ransomware attacks. For example, in the United States,Cyberattacks against utility companies will increase 70% by 2024 .
Recorded Future, which uses AI analytics to identify potential threats, has partnered with Mastercard to develop an AI-powered service that can alert financial institutions when a card is potentially dangerous.
The acquisition will expand the threat intelligence capabilities of the New York-based payments company, which last year reached $9 trillion in total dollar transaction volume, a metric that represents the total dollar value of all transactions processed.
Mastercard currently offers cybersecurity services to its customers, such as identity fraud prevention and real-time decision-making services.
Recorded Future serves more than 1,900 customers in 75 countries, including 45 governments.
The transaction is expected to close in the first quarter of 2025.
