MasterCard Advisors is looking to apply Mu Sigma’s analytics expertise to the aggregated and anonymous purchase behaviour data it holds.

The two companies will also jointly develop analytic products to address business challenges, such as acquiring customers and increasing customer loyalty.

MasterCard has not disclosed the size of its stake in Mu Sigma, but the Illinois-based firm has already attracted upwards of $130m in private equity investment.

Gary Kearns, executive vice president of information services for MasterCard Advisors, said: “The data analytics market is rapidly growing as customers seek real time insight allowing them to better connect with their consumers through highly relevant products, offers and services. We went through an extensive process to choose the right partner and Mu Sigma’s innovation labs and capabilities make them stand out as best-in-class in this field.”