Singapore – Mastercard, a global technology company in the payment industry, has recently expressed its intention to acquire threat intelligence firm Recorded Future for US$2.65b.
This strategic initiative is aimed at driving further advancements in the cybersecurity capabilities of the firm, complementing its services in identity verification, fraud prevention, and cybersecurity.
It also intends to provide stronger intelligence and enhanced security measures for its merchants and financial institutions.
The transaction is subject to regulatory approval, with a targeted closing by early 2025.
Speaking about the acquisition, Craig Vosburg, chief services officer at Mastercard, 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.
He also added, “Together we will innovate faster, create smarter models, and anticipate emerging threats before cyberattacks can take place – in payments and beyond.”
Meanwhile, Christopher Ahlberg, CEO at Recorded Future, further shared, “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.”
Previously, both companies have worked together to develop an AI-based system that improved the detection rate of compromised cards.
