Mastercard Goes Deeper Into Cybersecurity With $2.65B Acquisition Of Recorded Future

   September 13, 2024  Posted in Cyber Security Ventures


13 Sep Mastercard Goes Deeper Into Cybersecurity With $2.65B Acquisition Of Recorded Future

Posted at 09:09h
in Blogs
by Di Freeze
This week in cybersecurity from the editors at Cybercrime Magazine

–Read the Article in Reuters

Sausalito, Calif. – Sep. 13, 2024

Last year around this time Mastercard reported that cyberattacks were skyrocketing and they were expected to cost the world $8 trillion annually, according to Cybersecurity Ventures. If measured as a country, that would make cybercrime the third-largest economy in the world.

Now the latest from Mastercard is its mammoth acquisition of Recorded Future from private equity firm Insight Partners for $2.65 billion, according to Reuters. 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.

Recorded Future serves over 1,900 clients across 75 countries, including the governments of 45 countries. The deal with Mastercard is expected to close by the first quarter of 2025. By that time, Cybersecurity Ventures predicts that global cybercrime damage costs will reach a whopping $10.5 trillion annually.

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