Purchase-based Mastercard (NYSE:MA) has acquired the Swedish cloud-based cybersecurity company Baffin Bay Networks. The terms of the acquisition were not disclosed.
In a press statement, Mastercard said the acquisition will add to the company”™s “multi-layered approach to cybersecurity and helps to stop attacks, while mitigating exposure to risk across the ecosystem.” Baffin Bay Networks”™ cloud-based solution uses AI technology to automatically filter and counteract malicious internet traffic.
“We see trust as central to securing the future of our digital world,” said Ajay Bhalla, president of cyber and intelligence at Mastercard. “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. This will enable us to provide our customers across the world with faster, smarter and more effective protection from cyber risk.”
