Threat Intelligence Firm Recorded Future Buys Company Started by Former Employee in $52 Million Deal
Threat intelligence data broker Recorded Future has acquired fraud analytics startup Gemini Advisory as part of a strategic push to expand into the financial services and payment processing markets.
The cash and stock deal is valued at $52 million and comes less than a year after Recorded Future was itself acquired in a $780 million transaction.
Recorded Future expects the Gemini Advisory deal to provide tools and expertise to sell the “most comprehensive intelligence platform” with “the visibility to act at the speed of the adversary to mitigate cyber risk and fraud.”
Upon acquisition, Gemini Advisory will operate as an independent business unit inside of Recorded Future.
Gemini Advisory is the brainchild of former FBI consultant Andrei Barysevi, who left Recorded Future three years ago to create the new company.
“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,” said Recorded Future CEO Christopher Ahlberg.
“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,” he added.
Recorded Future itself was acquired by private equity firm Insight Partners for $780 million in a cash deal announced in May 2019.
Related: Recorded Future Acquired for $780M