Mastercard acquires RiskRecon to enhance cybersecurity capabilities

Mastercard acquires RiskRecon to enhance cybersecurity capabilities

Mastercard is acquiring RiskRecon, a Salt Lake City startup of artificial intelligence and data analytics solutions to support companies in protecting their cyber systems and infrastructure.

A purchase price has not been disclosed.

“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,” Ajay Bhalla, president of cyber and intelligence for Mastercard, said in a statement.

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In addition to supporting Mastercard solutions, RiskRecon will continue to provide cyber security solutions across a broader set of industries, including healthcare and manufacturing.

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Kelly White, chief executive officer and co-founder ofRiskRecon said by becoming part of Mastercard’s 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 launched in 2015 and has raised $40m (€36m, £30m)  so far. Investors included Accel, Dell Technologies Capital, General Catalyst and F-Prime Capital.

The deal with Mastercard is subject to standard regulatory approval, but is expected to close in the first quarter in 2020.

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