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BitSight will acquire VisibleRisk, a Moody’s and Team8 cyber risk ratings joint venture, and Moody’s will invest $250 million in BitSight. BitSight’s ability to analyze and evaluate a company’s financial exposure to cyber risk has been enhanced by the purchase of VisibleRisk.
Moody’s Corporation and BitSight Corporation today announced an investment by Moody’s in BitSight’s services and capabilities, resulting in a comprehensive, integrated, and industry-leading cybersecurity risk platform.
Moody’s will invest $250 million in BitSight, a pioneer in cybersecurity ratings. BitSight will acquire VisibleRisk, a cyber risk ratings joint venture founded by Moody’s and Team8, a global venture organization, as part of the deal announced today.
BitSight’s acquisition of VisibleRisk expands its capacity to analyze and calculate an organization’s financial exposure to cyber risk by adding in-depth cyber risk assessment capabilities. BitSight is valued at $2.4 billion in this deal, underscoring the company’s leadership in a fast-rising data and analytics sector.
As organizations invest in cyber defense and resilience, another critical need has emerged: the ability to accurately measure and quantify cyber risk and exposure. Creating transparency and enabling trust is at the core of Moody’s mission – to help organizations assess complex, interconnected risks and make more informed decisions. BitSight is the leader in the cybersecurity ratings space, and together we will help market participants across disciplines better understand, measure, and manage their cyber risks and translate that to the risk of financial loss.Rob Fauber, president and CEO of Moody’s
BitSight will establish a Risk Solutions Division that will provide a suite of important solutions and analytics to stakeholders such as chief risk officers, c-suite executives, and boards of directors.
BitSight provides unique insights for over 2,300 global customers, including several Fortune 500 firms, government agencies, insurers, and asset managers, using ratings, analytics, and performance management tools to help them identify cyber risk. BitSight’s comprehensive cyber risk data and research will be used by Moody’s throughout its increasing portfolio of integrated risk assessment product offerings.
Stephen Harvey, president and Chief Executive Officer CEO of BitSight, “Cybersecurity is one of the biggest threats to global commerce in the 21st century. Our partnership with Moody’s and acquisition of VisibleRisk expands our reach to help customers manage cyber risk in an increasingly digital world.”
After the purchase closes, Moody’s will become BitSight’s largest stakeholder, with a minority investment in the company. The investment was made with cash on hand and would not affect Moody’s financial results in 2021.