PURCHASE, N.Y.--(BUSINESS WIRE)--
Mastercard
(NYSE:MA) today announced it has entered into an agreement to acquire
Brighterion, Inc., a leading software company specializing in artificial
intelligence. This acquisition will further expand its suite of
capabilities that deliver an enhanced customer experience and security.
Artificial intelligence plays a critical role in enabling consumer
convenience, while delivering enhanced security. This advanced
technology delivers greater insights from every transaction to assist in
making even more accurate fraud decisions.
“To fully realize the promise of our increasingly digital lives, we need
to design our payment systems with the future in mind and that’s what
we’re doing,” said Ajay Bhalla, president of enterprise risk and
security for Mastercard. “Our unprecedented use of artificial
intelligence on our network is already proving successful. With the
acquisition of Brighterion, we will further extend our capabilities to
support the consumer experience.”
Brighterion’s unique Smart Agent technology will be added to
Mastercard’s advanced suite of security products already using
artificial intelligence. The resulting insights and capabilities from
the combined team will deliver even greater accuracy and a new element
in managing risk and protecting the consumer.
“It all comes down to intelligent decisioning at the time of the
transaction,” said Dr. Akli Adjaoute, founder and CEO of Brighterion.
“We’ve worked with Mastercard over the years to identify patterns and
trends to power their most advanced customers’ authorization and
decisioning activities. We look forward to building on that foundation
and providing an industry-leading, holistic and seamless security
experience.”
The closing of the transaction is subject customary closing conditions,
including the expiration or early termination of the applicable waiting
periods under the Hart-Scott-Rodino Act.
Terms of the agreement were not disclosed.
About Mastercard
Mastercard (NYSE:MA), www.mastercard.com,
is a technology company in the global payments industry. We operate the
world’s fastest payments processing network, connecting 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,
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About Brighterion
Brighterion offers the world’s deepest and broadest portfolio of
artificial intelligence and machine learning technologies, providing
real-time intelligence from all data sources regardless of type,
complexity and volume. Our technologies are successfully applied in
cyber and homeland security, anti-money laundering (AML), real-time
cross-channel fraud prevention, onboarding and risk monitoring,
behavioral device ID, data breach detection, marketing, trading,
healthcare and biotech.
Forward-Looking Statements
This press release contains forward-looking statements pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical facts may be
forward-looking statements. When used in this press release, the words
“believe,” “expect,” “could,” “may,” “would,” “will,” “trend” and
similar words are intended to identify forward-looking statements.
Examples of forward-looking statements include, but are not limited to,
statements that relate to Mastercard’s future prospects, developments
and business strategies, as well as Mastercard’s acquisition and
operation of Brighterion’s business. We caution you to not place undue
reliance on these forward-looking statements, as they speak only as of
the date they are made. Except for the company’s ongoing obligations
under the U.S. federal securities laws, the company does not intend to
update or otherwise revise the forward-looking information to reflect
actual results of operations, changes in financial condition, changes in
estimates, expectations or assumptions, changes in general economic or
industry conditions or other circumstances arising and/or existing since
the preparation of this press release or to reflect the occurrence of
any unanticipated events.
Many factors and uncertainties relating to the proposed transaction, our
operations and our business environment, all of which are difficult to
predict and many of which are outside of our control, influence whether
any forward-looking statements can or will be achieved. Any one of these
factors could cause our actual results or the impact of the acquisition
to differ materially from those expressed or implied in writing in any
forward-looking statements made by Mastercard or on its behalf. Such
factors related to the completion and impact of the acquisition include,
but are not limited to, the following:
-
whether all necessary conditions will be met, and
-
whether the transaction will close on agreed terms and in a timely
manner.
For additional information on other factors related to Mastercard’s
overall business that could cause Mastercard’s actual results to differ
materially from expected results, please see the company’s filings with
the Securities and Exchange Commission, including the company’s Annual
Report on Form 10-K for the year ended December 31, 2016 and any
subsequent reports on Forms 10-Q and 8-K.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170717005938/en/
Source: Mastercard Investor Relations