Mastercard has finalized a deal to acquire threat intelligence firm Recorded Future from private equity company Insight Partners for $2.65 billion, according to a statement released on Thursday.
The swift uptake of new technologies has heightened the risk of cyber threats, with businesses increasingly falling victim to hacking or ransomware attacks. For example, cyberattacks on U.S. utility companies skyrocketed by 70% in 2024.
Recorded Future, which employs AI-driven analytics to pinpoint potential threats, already partners with Mastercard on an AI-backed service that notifies financial institutions when a card is likely compromised. This acquisition will bolster Mastercard's threat intelligence capabilities, enhancing the New York-based payments company's offerings.
Mastercard, which processed $9 trillion in gross dollar volumes last year, currently provides cybersecurity services such as identity fraud prevention and real-time decision-making to its clients. Recorded Future, with over 1,900 clients in 75 countries, including 45 governments, is expected to further strengthen Mastercard's position in the cybersecurity market.
The transaction is anticipated to be completed by the first quarter of 2025.
