Mastercard, the American Multinational Financial Services Corporation has made it official that it is going to acquire AI-based Cybersecurity startup RiskRecon for an undisclosed amount. However, the deal is said to close in 1Q 2020 and is subjected to customary closing conditions.
RiskRecon happens to be a 2015 startup that leverages web data to companies to improve their Cybersecurity posture. It will help organizations better safeguard their intellectual property, consumer and payment data. And MasterCard aims to integrate RiskRecon’s technology into its product portfolio to help corporates improve their defenses in the world of Cybersecurity.
“Every business is prone to Cybercrime in today’s world and is susceptible to large scale cybercrimes such as data breaches and ransomware attacks. And RiskRecon is said to help accelerate cyber solutions to companies serving in the financial and government sectors” said Ajay Bhalla, President of Cyber and Intelligence, Mastercard.
Note 1- Mastercard happens to be a leading technology company in the International Payments industry and offers a range of product portfolio to make commerce activities like shopping, traveling, business owners simple, secure and more efficient.
Note 2- RiskRecon happens to be a data-driven company that offers risk prioritized action plans to match the risk priorities of its partner companies. It markets itself as a world’s only company that offers extremely low false-positive rate less than 1.5%. After the acquisition, the salt lake city headquartered company is said to be integrated into Mastercard as a business subsidiary.