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13 Sep Mastercard Goes Deeper Into Cybersecurity With $2.65B Acquisition Of Recorded Future
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This week in cybersecurity from the editors at Cybercrime Magazine
Sausalito, Calif. – Sep. 13, 2024
Last year around this time Mastercard reported that cyberattacks were skyrocketing and they were expected to cost the world $8 trillion annually, according to Cybersecurity Ventures. If measured as a country, that would make cybercrime the third-largest economy in the world.
Now the latest from Mastercard is its mammoth acquisition of Recorded Future from private equity firm Insight Partners for $2.65 billion, according to Reuters. 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.
Recorded Future serves over 1,900 clients across 75 countries, including the governments of 45 countries. The deal with Mastercard is expected to close by the first quarter of 2025. By that time, Cybersecurity Ventures predicts that global cybercrime damage costs will reach a whopping $10.5 trillion annually.
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