The concession is worth $1.3 billion
Mastercard has agreed to buy threat intelligence company Recorded Future from private equity firm Insight Partners for $2.65 billion, the payments company said on Thursday.
The rapid adoption of new technologies has upped the risk of cyber threats, with companies increasingly facing hacking or ransomware attacks. Cyberattacks on U.S. utility companies, for instance, surged 70% in 2024.
Recorded Future, which uses artificial intelligence-powered analytics to identify potential threats, already collaborates with Mastercard on an AI-supported service that alerts financial institutions when a card is likely compromised.
The acquisition will bring expanded threat intelligence capabilities to the New York-based payments firm, which recorded $9 trillion in gross dollar volumes last year, a metric that represents the total dollar value of all transactions processed.
Mastercard currently offers cybersecurity services such as identity fraud prevention and real-time decision-making, among others, to its clients.
Recorded Future serves over 1,900 clients across 75 countries, including the governments of 45 countries.
The deal is expected to close by the first quarter of 2025.
The concession is worth $1.3 billion
Disney and DirecTV reach new licensing agreement
YPO UAE hosts exclusive event with Feroc Luxury at Dubai Opera
The advanced air mobility devices are powered by electric motors, aligning with UAE's sustainability goals and reducing carbon footprint
Considerations are at an early stage and Blackstone may still decide against pursuing a deal, a report said
The total number of Chinese visitors to the UAE stood at around 1.2 million in 2023
Companies had select sellers which hurt smaller players, reports find
The CBUAE explained that banks' capital and reserves do not include subordinated borrowings/deposits, but do include the current year's profits