PURCHASE, N.Y.--(BUSINESS WIRE)--Mastercard (NYSE: MA) today announced an agreement to acquire RiskRecon, a leading provider of artificial intelligence and data analytics solutions to support companies in protecting their cyber systems and infrastructure.

In a rapidly evolving digital world, cybercrime is a pertinent threat to business. Large-scale data breaches and ransomware attacks place billions of records at risk each year, jeopardizing consumer trust.

“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,” explained Ajay Bhalla, president of cyber and intelligence for Mastercard. “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.”

With RiskRecon’s pioneering scanning and evaluation technologies, organizations can proactively manage cyber risks, better 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.

“Mastercard has been one of those brands that has stood out as a true innovator, focusing on the real problems of real businesses,” said Kelly White, chief executive officer and co-founder, RiskRecon. “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.”

Terms of the agreement were not disclosed. The transaction, which is anticipated to close in the first quarter of 2020, is subject to customary closing conditions.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

About RiskRecon

RiskRecon is the only continuous vendor monitoring solution that delivers risk-prioritized action plans custom-tuned to match your risk priorities, providing the world’s easiest path to understanding and acting on third-party cyber risk. Partnering with RiskRecon enables you to scale your third-party risk management program to efficiently realize dramatically better risk outcomes. To learn more about RiskRecon’s approach, request a demo or visit the website at www.riskrecon.com.