Recorded Future has agreed to acquire Gemini Advisory, a fraud analytics provider, for $52 million. Recorded Future is a portfolio company of Insight Partners.
BOSTON, March 16, 2021 /PRNewswire/ — Recorded Future, the world’s largest provider of intelligence for enterprise security, today announced it has entered into an agreement to acquire revolutionary fraud analytics provider, Gemini Advisory, in a cash and equity transaction valued at $52 million. Together, Recorded Future and Gemini Advisory will offer organizations the most comprehensive intelligence platform, giving organizations a critical edge with the visibility to act at the speed of the adversary to mitigate cyber risk and fraud.
The acquisition accelerates Recorded Future’s growth into the fraud analytics market. Upon acquisition, Gemini Advisory will operate as an independent business unit inside of Recorded Future, and will continue to maintain and support its unique technical capabilities and global client base. Since its founding in 2017, Gemini Advisory has offered an unrivaled view for organizations into the criminal underground and provides invaluable business outcomes such as the minimization of reputational damage to organizations and financial losses to customers.
“In a short time, Gemini Advisory has become a leader in the fraud space with unique offerings in both payment card intelligence and merchant fraud intelligence. As we continue to execute on our mission to deliver a modular intelligence platform, joining forces with Gemini Advisory expands the value we deliver for customers across enterprise security and fraud.” — Dr. Christopher Ahlberg, CEO and Co-Founder, Recorded Future
Recorded Future’s modules deliver intelligence across a wide range of solution areas, including: SecOps Intelligence, Threat Intelligence, Brand Intelligence, Vulnerability Intelligence, Third-Party Intelligence, and Geopolitical Intelligence. The fraud and threat intelligence data within Gemini Advisory’s platform will fuel Recorded Future’s immediately-available Fraud Intelligence offering. Gemini Advisory has provided its clients with an unprecedented view into the state of the payment card, merchant fraud, and transactional fraud related cybercriminal economy in order to prevent fraud, on average, up to 24 days before it occurs.
“Gemini Advisory was able to take the market leader position for fraud intelligence because of the unparalleled expertise of our team, having spent years in undercover operations, and our novel approach to fraud detection and prevention. Recorded Future mirrors this approach across other cybersecurity solution areas, with intelligence at the foundation of both of our businesses. This common core is what makes a partnership with Recorded Future the right next step in our evolution.” – Andrei Barysevich, CEO and Co-Founder, Gemini Advisory
About Gemini Advisory
Gemini Advisory provides cutting-edge Fraud Threat Intelligence to equip organizations with the knowledge they need to effectively combat ever-growing cyber threats. Founded by seasoned subject matter experts, Gemini offers clients access to compromised data, CPP analysis, brand monitoring, and covert actor engagement informed by 15 years of experience in undercover operations. Armed with extensive insight into the dark web, Gemini’s Fraud Intelligence Specialists can accomplish critical tasks with speed and precision.
About Recorded Future
Recorded Future is the world’s largest provider of intelligence for enterprise security. By combining persistent and pervasive automated data collection and analytics with human analysis, Recorded Future delivers intelligence that is timely, accurate, and actionable. In a world of ever-increasing chaos and uncertainty, Recorded Future empowers organizations with the visibility they need to identify and detect threats faster; take proactive action to disrupt adversaries; and protect their people, systems, and assets, so business can be conducted with confidence. Recorded Future is trusted by more than 1,000 businesses and government organizations around the world. Learn more at www.recordedfuture.com and follow us on Twitter at @RecordedFuture.