Mastercard goes fishing and lands threat intelligence firm Recorded Future in its net for a record deal.
Global payments network Mastercard is set to acquire Recorded Future in a record deal valued at $2.65 billion. The acquisition, which is expected to close by the first quarter of 2025, pending regulatory review and standard closing conditions, will help Mastercard further fortify its cybersecurity capabilities and extend its reach into the growing threat intelligence space.
Mastercard’s purchase of Boston-based Recorded Future, currently owned by private equity firm Insight Partners, reflects the credit card giant’s strategy to strengthen its digital security offerings.
“The acquisition bolsters the insights and intelligence used to secure today’s digital economy – in the payments ecosystem and beyond,” Mastercard said in an official statement.
Mastercard Acquisition for Combating Cybercrime
Mastercard, which already has a range of fraud prevention and cybersecurity services that leverage artificial intelligence (AI) and other advanced technologies, views this acquisition as crucial in combating the rising tide of financial crime.
The company said the acquisition would further enrich its fraud prevention tools, real-time decisioning, and cybersecurity services, expanding its ability to deliver vigorous intelligence to its network of merchants, financial institutions, and other partners.
“Trust is the foundation of any relationship. Recorded Future adds to how we deliver that greater peace of mind before, during, and after the payment transaction. Together we will innovate faster, create smarter models, and anticipate emerging threats before cyberattacks can take place – in payments and beyond,” said Craig Vosburg, Chief Services Officer at Mastercard.
Founded in 2009, Recorded Future serves over 1,900 clients across 75 countries and has a clientele that includes federal governments and several Fortune 500 companies. The firm provides real-time visibility into potential cyber threats by analyzing an expansive set of data sources. This insight allows its customers to preemptively address risks, a capability that Mastercard sees as essential to securing the broader digital economy, particularly in the payments sector.
Recorded Future’s ability to gather and analyze a vast array of data using AI aligns with Mastercard’s strategy of deploying advanced technology to stay ahead of evolving cyber threats. By acquiring Recorded Future, Mastercard is not only broadening its own cybersecurity portfolio but also reinforcing its position as a leader in digital trust and security.
Synergies Between AI and Threat Intelligence
Both Mastercard and Recorded Future are at the forefront of leveraging AI to enhance cybersecurity. The two companies currently collaborate on an AI-supported service that alerts financial institutions more quickly and accurately when a payment card is likely to have been compromised.
Bringing Recorded Future’s AI-driven threat intelligence under Mastercard’s umbrella will likely result in enhanced products and services for customers, who will benefit from the combined expertise in cybersecurity and intelligence. Mastercard’s global network and reach present an opportunity for Recorded Future to scale its operations and further develop its technology.
Christopher Ahlberg, CEO of Recorded Future, expressed optimism about the deal: “Fifteen years ago, we created Recorded Future with a simple goal to secure the world with intelligence. By joining Mastercard, we see an opportunity to help more businesses and governments determine the steps to realize their full potential – and to enable everyone to feel safer in their daily lives.”
Positioning for the Future of Digital Security
The acquisition comes at a time when cybercrime is at an all-time high, with threats becoming more advanced and extensive. The rise in digital transactions, the expansion of e-commerce, and the increased reliance on online services have created new vulnerabilities that businesses and governments alike are struggling to address. Mastercard’s investment in Recorded Future reflects a growing recognition that proactive threat intelligence is essential in mitigating these risks.
Mastercard has been steadily building its cybersecurity portfolio over the years, with acquisitions and partnerships designed to enhance its fraud prevention and risk management capabilities.
Last year, Mastercard acquired Swedish firm Baffin Bay Networks that provides threat protection service, to stop attackers from penetrating or taking down cyber systems. Before that, in 2019, the payments giant acquired RiskRecon a pioneering scanning and evaluation technologies company that helped proactively manage cyber risks, better safeguarding critical intellectual property and consumer and payment data.
This latest acquisition signals the company’s intent to play a larger role in shaping the future of cybersecurity, particularly in the payments ecosystem, where trust and security are paramount.
The deal also highlights the increasing importance of threat intelligence in the broader digital world.