Moody’s Corporation and BitSight announced a significant investment by Moody’s, further enhancing BitSight’s offerings and capabilities, to create a comprehensive, integrated, industry-leading cybersecurity risk platform. Moody’s will invest $250 million in BitSight. This transaction reflects the increasing strategic, financial, and operational impact of cyber risk to organizations and markets.
BitSight, a leader in cybersecurity ratings, and BitSight will acquire VisibleRisk, a cyber risk ratings joint venture founded by Moody’s and Team8, a worldwide venture organization, as part of the announced transaction.
BitSight helps global market participants understand cyber risk through ratings, analytics, and performance management tools, delivering unique insights for over 2,300 global customers, including many Fortune 500 companies, government agencies, insurers, and asset managers. Moody’s will leverage BitSight’s extensive cyber risk data and research across its growing suite of integrated risk assessment product offerings. BitSight’s acquisition of VisibleRisk adds a unique in-depth cyber risk assessment capability and advances its ability to analyze and calculate an organization’s financial exposure to cyber risk. BitSight is valued at $2.4 billion in this deal, indicating the company’s leadership in a growing 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,” said Rob Fauber, President and Chief Executive Officer of Moody’s.
“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,” said Steve Harvey, President and Chief Executive Officer of BitSight.