In a strategic move to bolster its cybersecurity capabilities, Mastercard has announced an agreement to acquire Recorded Future, a leading global threat intelligence company, for $2.65 billion.
This acquisition, from Insight Partners, aims to enhance Mastercard’s existing suite of services focused on cyber resilience and trust within the digital economy.
Recorded Future, renowned as the world’s largest threat intelligence company, serves over 1,900 clients across 75 countries, including governmental agencies from 45 countries and more than half of the Fortune 100 companies.
The acquisition underscores Mastercard’s commitment to strengthening its cybersecurity measures amidst a rapidly evolving digital landscape where cybercrime is projected to cost $9.2 trillion globally in 2024.
Enhancing Threat Intelligence
The integration of Recorded Future’s capabilities will provide Mastercard with real-time visibility into potential cyber threats.
By analyzing a broad set of data sources, Recorded Future delivers actionable insights that enable clients to mitigate risks effectively.
The company’s use of artificial intelligence and cutting-edge technologies will complement Mastercard’s existing identity, fraud prevention, real-time decision-making, and cybersecurity services.
Craig Vosburg, Mastercard’s Chief Services Officer, emphasized the importance of trust in digital transactions, stating, “Recorded Future adds to how we deliver greater peace of mind before, during, and after the payment transaction. T
Together, we will innovate faster, create smarter models, and anticipate emerging threats before cyberattacks can take place.”
The acquisition is expected to create synergies by combining the expertise and technologies of both companies, further reinforcing Mastercard’s reputation as a trusted brand in cybersecurity.
Customers across various sectors will benefit from enhanced insights, fueling product innovation and supporting greater intelligence and security.
Christopher Ahlberg, CEO of Recorded Future, expressed enthusiasm for the partnership, noting, “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.”
Future Prospects
The collaboration has already yielded positive results, with an AI-supported service that alerts financial institutions about potentially compromised cards. Since its launch earlier this year, the service has doubled the rate of identified compromised cards compared to the previous year.
The transaction, subject to regulatory review and customary closing conditions, is expected to close by the first quarter of 2025.
As the digital economy continues to grow, Mastercard’s acquisition of Recorded Future positions the company to better defend against emerging cyber threats and enhance security for its global network of merchants and financial institutions.