Mastercard has struck a deal to acquire Recorded Future, the world's largest threat intelligence company, for $2.65 billion. The acquisition is designed to improve Mastercard's cybersecurity offerings by incorporating Recorded Future's threat intelligence capabilities into its current services. This acquisition will benefit merchants, financial institutions, and consumers in new sectors. Recorded Future is a leader in AI-powered analytics, providing services to over 1,900 clients in 75 countries. Clients include the administrations of 45 nations and over 50% of Fortune 100 companies. The organization analyzes a vast array of data sources to offer its clients real-time insights into cyber threats, thereby allowing them to take action to reduce risks. Globally, cybercrime is anticipated to incur a cost of $9.2 trillion by 2024, emphasizing the significance of comprehensive threat intelligence in safeguarding the digital economy.
Recorded Future and Mastercard have already established a partnership to develop AI-supported services, which includes a platform that enables financial institutions to more rapidly and precisely identify compromised cards. Mastercard aims to enhance identity, fraud prevention, and real-time decisioning services by incorporating Recorded Future's technology, thereby providing more profound insights. The transaction is anticipated to be finalized by the first quarter of 2025, contingent upon regulatory approval. Mastercard's enhanced cybersecurity capabilities will facilitate innovation and offer its clients improved protection in a world that is becoming increasingly digital.
