Dive Brief:
- Mastercard has agreed to acquire the cybersecurity company Recorded Future for $2.65 billion from the venture capital firm Insight Partners, according to a joint press release issued Thursday.
- Boston-based Recorded Future services about 1,900 business and government clients in some 75 countries, the release said. The companies expect the transaction to be completed by the first quarter of next year, pending regulatory review and other closing conditions.
- The card network already collaborates with Recorded Future on an artificial intelligence service that alerts banks when a credit or debit card has likely been compromised. Since the launch of that service earlier this year, the rate of spotting those problematic situations has increased, according to the release.
Dive Insight:
Cybersecurity has become increasingly important in the age of digital payments for all companies operating in the ecosystem. Identity theft, imposter scams and online hacks have made safeguarding customers’ credit and debit card credentials more difficult and more critical.
“As a technology company in the global payments industry…
