Mastercard Strengthens Threat Intelligence Capabilities With $2.65 Billion Acquisition of Recorded Future

Mastercard, the global technology company in the payments industry is expanding its cybersecurity services by acquiring global threat intelligence company Recorded Future from Insight Partners for US$2.65 billion. This acquisition strengthens Mastercard’s ability to protect the digital economy, both within and beyond the payments sector.

Boston-based Recorded Future claims to be the world’s largest threat intelligence company, with more than 1900 clients across 75 countries, including the governments of 45 countries and over 50% of the Fortune 100.

With the increasing risk of cyberthreats, especially as new technologies emerge, a comprehensive global approach to cybersecurity is critical. Cybercrime is expected to cost the global economy US$9.2 trillion in 2024 alone.

Recorded Future was founded in 2007 when a patent application was first written for what later became the Recorded Future Intelligence Platform.

“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 realize their full potential – and to enable everyone to feel safer in their daily lives,” said Christopher Ahlberg, CEO of Recorded Future. Insight Partners acquired Recorded Future in 2019 for $780m.

Through its advanced data analysis, Recorded Future offers real-time insights into potential threats, allowing customers to take preventive action. Its use of AI and cutting-edge technologies will enhance Mastercard’s existing capabilities in identity protection, fraud prevention, and real-time decision-making, broadening threat intelligence support for its network of merchants and financial institutions.

Craig Vosburg, Mastercard’s Chief Services Officer, emphasized that "trust is the foundation of any relationship." He added that Recorded Future’s expertise would enhance Mastercard’s ability to prevent cyberattacks, not just in payments but across various sectors. The integration of both companies’ AI-driven technologies will create more innovative models for detecting and mitigating emerging threats.

This collaboration is expected to enhance customer protection and drive innovation, while Mastercard’s global reach offers new growth opportunities for Recorded Future. Christopher Ahlberg, CEO of Recorded Future, noted that by joining forces with Mastercard, the company could help more organizations and governments maximize their security potential and ensure safer environments for everyone.

Recorded Future has been a leader in using AI to provide accessible and actionable threat intelligence. Its technology improves the efficiency and effectiveness of its customers, helping them address identified risks more strategically.

Mastercard and Recorded Future are already working together on an AI-based service that alerts financial institutions when a card is likely compromised. This service has doubled the rate of identified compromised cards since its introduction earlier this year.

The transaction is slated to close by the first quarter of 2025, subject to regulatory review.