US-based payment card services provider Mastercard has agreed to acquire Recorded Future from venture capital and private equity firm Insight Partners, for a total of $2.65bn.
Recorded Future is a threat intelligence company with more than 1,900 clients across 75 countries, including the governments of 45 countries and over 50% of the Fortune 100.
The cybersecurity company provides real-time visibility into potential threats by analysing a broad set of data sources to provide insights that help its customers mitigate risks.
Recorded Future’s AI and other technologies will complement Mastercard’s identity, fraud prevention, real-time decisioning and cybersecurity services.
Mastercard said that the proposed acquisition will expand the threat intelligence capabilities of its network of merchants and financial institutions.
The transaction is expected to be completed by the first quarter of 2025, subject to regulatory review and other customary closing conditions.
Mastercard chief services officer Craig Vosburg said: “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.”
Mastercard and Recorded Future, both use AI for the analysis of billions of data points to identify potential threats to protect people and businesses.
The proposed acquisition will integrate technology and expertise from both companies, expand practices and drive synergies in cybersecurity and intelligence.
Recorded Future has been using AI-powered analytics to generate insights that are easily accessible to and understood by customers.
Also, the technology helps its customers effectively use the platform to address the risks.
Recorded Future and Mastercard has also partnered on an AI-powered service that alerts financial institutions more rapidly when a card is likely to have been compromised.
Recorded Future CEO Christopher Ahlberg said: “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 realise their full potential – and to enable everyone to feel safer in their daily lives.”
