Mastercard Inc. announced plans to acquire Recorded Future Inc. for $2.65 billion. The deal, expected to close by the first quarter of 2025, aims to bolster Mastercard's capabilities in detecting compromised credit cards using artificial intelligence.
Recorded Future, a threat-intelligence company based in Somerville, Massachusetts, has over 1,900 employees across 75 countries. The collaboration between the two companies has already led to a service that has doubled the rate of identifying compromised cards compared to the previous year.
Craig Vosburg, Mastercard's chief services officer, emphasized that the merger will enable faster innovation and improved threat anticipation in payments and beyond. The acquisition is expected to enhance fraud prevention and real-time decision-making for Mastercard's network of financial institutions and business clients.
Insight Partners, which currently owns Recorded Future, acquired the company in 2019 for $780 million.