NEWS3 January 2020

Mastercard acquires security startup RiskRecon

AI Finance M&A News North America Privacy Technology

US – Mastercard has agreed to acquire artificial intelligence and data analytics company RiskRecon as it looks to boost its cybersecurity.

Mastercard cards new logo_crop

The acquisition, expected to close in the first quarter of the year, will expand Mastercard’s cyber solutions for financial institutions, merchants and governments.

RiskRecon’s software-as-a-service (SaaS) platform is used by companies to manage the risk of interconnected IT ecosystems, via risk assessment automation. Headquartered in Salt Lake City, Utah, the company was founded in 2013.

Ajay Bhalla, president of cyber and intelligence at Mastercard, said: “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, chief executive officer and co-founder, RiskRecon, added: “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.”

RiskRecon will also continue to offer cybersecurity services across other industries including healthcare and manufacturing.

The terms of the deal were not disclosed, and the transaction is subject to closing conditions.