Moody’s Corporation Buys Stake in BitSight
Posted on 09/13/2021
For many large global international companies will billions in revenue, cybersecurity is one of the biggest threats to global commerce in the 21st century. Moody’s Corporation will invest US$ 250 million in Boston-based BitSight, a pioneer in cybersecurity ratings. In turn, BitSight will acquire VisibleRisk, a cyber risk ratings joint venture created by Moody’s and Team8. BitSight previously raised US$ 165 million from firms like GGV Capital, Flybridge Capital, Warburg Pincus, and Menlo Ventures. Following transaction close, Moody’s will become the largest shareholder of BitSight, with a minority stake in the company. The transaction values BitSight at US$ 2.4 billion.