Company Website:
http://www.mastercard.com
PURCHASE, N.Y. -- (Business Wire)
Mastercard
(NYSE:MA) today announced it has entered into an agreement to acquire NuData
Security, a global technology company that helps businesses prevent
online and mobile fraud using session and biometric indicators.
The Internet of Things is creating a more digitally-driven and
digitally-connected world, with an estimated 50 billion smart devices to
be in use across the globe by 2020. While such connectivity can create
unparalleled convenience for consumers to pay how they want, when they
want, it remains critically important to keep all transactions secure.
Mastercard will build on its commitment to drive greater protection in
the digital space, integrating NuData to its already robust suite of
fraud management and security products. The acquisition will also
strengthen its efforts around device-level security and authentication,
enabling near real-time collaboration between issuers, merchants and
processors.
“Securing all payments today and tomorrow remains a top priority for
Mastercard,” said Ajay Bhalla, president of enterprise risk and security
for Mastercard. “The addition of NuData will build on our layered
security strategy to safeguard each and every transaction across the
globe. The combination of session and biometric information will provide
even richer context around potential cyber and device-specific threats,
enabling us to deliver even greater trust and peace of mind.”
NuData’s flagship NuDetect product identifies authentic users from
potential fraudsters based on their online, mobile app and smartphone
interactions, flagging those that represent the highest risk. The
technology assesses, scores and learns from each online or mobile
transaction to enable merchants and issuers to make near real-time
authorization decisions.
“We’re excited to join the Mastercard family,” said Michel Giasson,
chief executive officer, NuData. “For nearly a decade, we’ve worked to
develop innovative solutions to help transform the way banks and
merchants digitally interact with consumers. Those efforts will continue
and accelerate through our collective enhanced capabilities to secure
the digital landscape, while offering an enhanced user experience.”
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 NuData Security
NuData Security is an award-winning passive biometrics and behavioral
analytics company. Their flagship product, NuDetect, helps organizations
form digital trust by identifying users based on their online
interactions - behavior that can't be mimicked or replicated by a third
party.
NuData believes good users deserve good online experiences and brands
deserve protection against abuse. NuDetect analyses hundreds of device,
location, passive biometric and behavioral signals to build an ongoing
digital identity. This analysis continuously informs clients of fraud
risk in real-time and gives them choices about what actions to take even
before the transaction.
NuDetect analyzes 80 billion online interactions yearly and is trusted
by some of the largest global brands in the world to verify users with
their own natural behaviors while offering a great customer experience.
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 NuData’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/20170329005666/en/
Contacts:
Mastercard
Seth Eisen, 914-249-3153
seth.eisen@mastercard.com
Source: Mastercard Investor Relations
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