Mastercard acquires Baffin Bay to bolster cybersecurity

By Gloria Methri

Mastercard has acquired cloud-based cybersecurity company Baffin Bay Networks to better help businesses deal with the challenging nature of cyber-attacks.

Based in Sweden, Baffin Bay Networks adds to Mastercard’s multi-layered approach to cyber security and helps stop attacks while mitigating risk exposure. The acquisition strengthens Mastercard’s broader service 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 organizations to identify vulnerabilities in advance. Customers will also benefit from Baffin Bay’s automated Threat Protection service which helps stop attackers from penetrating or taking down cyber systems.

“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, said 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.”

Baffin Bay Networks’ cloud-based solution uses the latest in AI technology to automatically filter and counteract malicious internet traffic. It has a proven track record of mitigating or preventing costly and potentially catastrophic breach cyber events.

“Our cloud-based Threat Protection service provides a simple and effective way to safeguard against application and network-level attacks,” said Joakim Sundberg, Founder, and Chief Technology Officer at Baffin Bay Networks. “Our two companies share this vision; to provide our customers with security and trust. We are thrilled to join the Mastercard family to expand our impact across the globe.”