Mastercard has acquired Swedish cybersecurity firm Baffin Bay as part of plans to build a multi-layered protective shield for customers across the world
Baffin Bay Networks’ cloud-based service uses AI technology to automatically filter and counteract malicious internet traffic at both the network and application level.
The acquisition further strengthens Mastercard’s broader services offerings beyond the payment transaction as it moves to integrate its solutions into an all-ecompassing cyber service. To this end Baffin bay's threat protection system will be bolted on to Mastercard's RiskRecon data analytics product, which enables organisations to identify vulnerabilities in advance.
“We see trust as central to securing the future of our digital world. The addition of Baffin Bay Network’s instantaneous, predictive and cloud-based, AI technology to our existing analytical capabilities will deliver a leading, singular cyber solution," says Ajay Bhalla, president of Cyber and Intelligence at Mastercard. “This will enable us to provide our customers across the world with faster, smarter and more effective protection from cyber risk."
Terms of the transaction were not disclosed.