Moody’s Corporation announced on Monday that it would be investing in cybersecurity company BitSight and working with the firm to create a “comprehensive, integrated, industry-leading cybersecurity risk platform.”
First reported by CNN, the partnership will see Moody’s invest $250 million in BitSight and the cybersecurity company will acquire Moody’s cyber risk ratings venture VisibleRisk, which they created with global venture group Team8.
In a statement, Moody’s CEO Rob Fauber said organizations need a way to accurately measure and quantify cyber risk and exposure as they continue to invest in cyber defense and resilience.
“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,” Fauber said.
“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
The article Moody's to invest $250 million in BitSight, create 'cybersecurity risk platform' originally appeared on ZDNet.