Bank of America plans to acquire UK-based information security firm MDSec Consulting Ltd to strengthen its defenses against a surge in AI-driven cyberattacks. The deal, expected to close in the fourth quarter of 2026 pending regulatory approval, adds about 65 cybersecurity professionals to the second-largest US lender.
Bank of America said Thursday it plans to acquire MDSec Consulting Ltd, a UK information security firm with about 65 cybersecurity professionals, as the second-largest US lender strengthens its defenses against a surge in AI-driven cyberattacks and ransomware.
"Cyber threats continue to evolve in sophistication and frequency, making it essential that we invest in top-tier talent and capabilities," a Bank of America spokesperson said in a statement. The deal is expected to close in the fourth quarter of 2026 pending regulatory approval.
MDSec, headquartered in Macclesfield, England, provides security-related consultancy services. Bank of America already has a significant presence in northern England, with more than 1,400 employees based nearby in Chester, where one of the bank's cyber threat operations centers is also located. No deal value was disclosed.
Companies worldwide are grappling with a surge in AI-driven cyberattacks and ransomware that steal sensitive data and disrupt operations, the bank said. The White House earlier this month launched a coordination group bringing together AI developers and critical infrastructure operators to share information on cybersecurity vulnerabilities identified by advanced AI systems and coordinate responses. For Bank of America, the acquisition adds in-house expertise as financial institutions face growing pressure to protect client data and maintain operational resilience.
This article is for informational purposes only and does not constitute investment advice.
