Mastercard has closed a deal to buy threat intelligence specialist Recorded Future from private equity firm Insight Partners for $2.65 billion
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Mastercard said the acquisition will strengthen its fraud prevention, real-time decision making and cybersecurity services in the payments ecosystem and beyond.
Boston-based Recorded Future claims to be the world’s largest threat intelligence company, with more than 1,900 customers in 75 countries, including governments of 45 countries and over 50% of the Fortune 100.
The company provides real-time insight into potential threats by analyzing a wide range of data sources, enabling customers to take action to mitigate risk. It relies on artificial intelligence to analyze billions of data points to identify potential threats and is already working with Mastercard on an AI-powered service that alerts financial institutions when a card is likely to have been compromised.
According to Mastercard, since its launch earlier this year, the service has doubled the rate at which compromised cards are identified compared to the same period last year.
“Trust is the foundation of every relationship. Recorded Future helps us provide greater security before, during and after the payment transaction. Together, we will innovate faster, develop smarter models and anticipate emerging threats before cyberattacks can take place – in payments and beyond,” said Craig Vosburg, Chief Services Officer at Mastercard.
The transaction is expected to close in the first quarter of 2025, subject to regulatory review.