Mastercard has made a strategic move to enhance its cybersecurity capabilities by acquiring Recorded Future, a prominent global threat intelligence company, for $2.65 billion. The acquisition, a deal with Insight Partners, is aimed at strengthening Mastercard’s suite of services focused on cyber resilience and trust in the digital economy. Recorded Future, known as the world’s largest threat intelligence company, serves a vast clientele of over 1,900 clients across 75 countries, including governmental agencies and Fortune 100 companies.
With cybercrime projected to cost $9.2 trillion globally by 2024, the acquisition demonstrates Mastercard’s dedication to fortifying its cybersecurity measures in an ever-evolving digital landscape. The integration of Recorded Future’s capabilities will provide Mastercard with real-time visibility into potential cyber threats. By analyzing various data sources, Recorded Future offers actionable insights to help clients effectively mitigate risks. Their use of artificial intelligence and cutting-edge technologies will complement Mastercard’s existing services in identity, fraud prevention, real-time decision-making, and cybersecurity.
Craig Vosburg, Mastercard’s Chief Services Officer, emphasized the importance of trust in digital transactions and highlighted how Recorded Future will enhance the company’s ability to deliver greater peace of mind throughout the payment process. The acquisition is expected to create synergies by combining the expertise and technologies of both companies, further solidifying Mastercard’s reputation as a trusted brand in cybersecurity. This partnership will benefit customers across various sectors by providing enhanced insights for product innovation and greater intelligence and security.
Recorded Future’s CEO, Christopher Ahlberg, expressed enthusiasm for the collaboration, citing the opportunity to help businesses and governments realize their full potential and make everyone feel safer in their daily lives. The partnership has already shown promising 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 identification rate of compromised cards compared to the previous year.
The acquisition is subject to regulatory review and customary closing conditions, with an expected closing date in the first quarter of 2025. As the digital economy continues to expand, 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. This strategic move underscores Mastercard’s commitment to staying ahead of cyber threats and ensuring the safety and trust of its customers in an increasingly digital world.