Mastercard (NYSE: MA) recently announced it has entered into an agreement to acquire RiskRecon, a provider of artificial intelligence and data analytics solutions to support companies in protecting their cyber systems and infrastructure. Mastercard reported that with RiskRecon’s pioneering scanning and evaluation technologies, organizations may proactively manage cyber risks, safeguarding critical intellectual property and consumer and payment data.
“In addition to supporting Mastercard solutions, RiskRecon will continue to provide cyber security solutions across a broader set of industries, including healthcare and manufacturing.”
Speaking about the acquisition, Ajay Bhalla, President of Cyber and Intelligence for Mastercard, stated:
“The innovations from the talented team at RiskRecon will further accelerate our suite of cyber solutions designed to help financial institutions, merchants and governments secure their digital assets. Through a powerful combination of AI and data-driven advanced technology, RiskRecon offers an exciting opportunity to complement our existing strategy and technology to secure the cyber space.”
Kelly White, CEO and Co-Founder of RiskRecon, also commented:
“Mastercard has been one of those brands that has stood out as a true innovator, focusing on the real problems of real businesses. By becoming part of their team, we have an opportunity to scale our solution and help companies in new industries and geographies take steps to better manage their cybersecurity risk.”
Mastercard went on to add that the transaction is anticipated to close in the first quarter of 2020 and is subject to customary closing conditions.