Mastercard has agreed to buy threat intelligence company Recorded Future from private equity firm Insight Partners for US$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 US 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 US$9 trillion in gross dollar volumes last year, a metric that represents the total dollar value of all transactions processed.

Mastercard currently offers cyber security 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.

  - Reuters