Mastercard Acquires Swedish Cybersecurity Company to Enhance Protection Against Cyber Risk

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

Baffin Bay Networks, based in Sweden, 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.

Today’s increasingly digital world has delivered greater convenience and increased opportunities for people, businesses and governments. At the same time, it has exposed the need to strengthen protection against criminals who exploit this technology through malware, ransomware and distributed denial of service (DDOS) attacks. For example, in 2022 alone, DDoS attacks rose by 22%[1].

Read the source article at businesswire.com