Tuesday 21 March 2023

New York-based payments technology company Mastercard has acquired Sweden-based cloud-based cybersecurity company Baffin Bay Networks to enhance multi-layered protection against cyber risk, the company said.

Terms of the transaction were not disclosed.

Baffin Bay Networks adds to Mastercard's multi-layered approach to cyber security and helps to stop attacks, while mitigating exposure to risk across the ecosystem.

The acquisition further strengthens Mastercard's broader services offerings and value beyond the payment transaction.

Mastercard will integrate its solutions into a single cyber service available to all its customers across the world.

Its existing RiskRecon data analytics enables organisations to identify vulnerabilities in advance.

Customers will now benefit from Baffin Bay's automated Threat Protection service which helps to stop attackers from penetrating or taking down cyber systems.

Baffin Bay Networks' cloud-based Threat Protection Platform delivers a simple and effective way to mitigate both application and network level attacks - giving customers instant security maturity from seasoned industry experts.