In a move to add another layer of protection to its cloud-delivered software and services, tech giant IBM is acquiring Trusteer, a software company with expertise in enterprise endpoint defense and advanced malware protection.
This is IBM's 14th acquisition in the security space, which is a fast-growing part of their portfolio. No financial terms of the acquisition were disclosed, but the Israeli press estimates it's worth between $800 million and $1 billion.
This is IBM's 14th acquisition in the security space, which is a fast-growing part of their portfolio. No financial terms of the acquisition were disclosed, but the Israeli press estimated it's worth between $800 million and $1 billion.
One intriguing aspect of the acquisition is that IBM is setting up a cybersecurity software lab in Israel that will enable more than 200 Trusteer and IBM researchers and developers to focus on mobile and application security, advanced threats, malware, counter-fraud and financial crimes.
Trusteer, with offices in Boston and Tel Aviv, Israel, is well known for its software capable of identifying security threats that can go undetected by traditional security software.
Trusteer's solutions are used by many of the top banks in the U.S. and U.K. to help ensure banking customers can safely transfer money on their mobile devices. The company's software, for example, is designed to detect malware infecting a smartphone so banks can block fraudulent behavior and account takeover before a single transaction even occurs.
"Together with IBM's capabilities in advanced threat detection, analysis and remediation, we'll now be able to offer our clients several additional layers of defense against sophisticated attackers," said Brendan Hannigan, general manager of IBM's security systems division.
Acquiring Trusteer, according to IBM, will "complement our portfolio of counter-fraud software and services, including QRadar, i2, SPSS, InfoSphere and Enterprise Content Management."
For more details about the IBM-Trusteer acquisition, check out IBM's podcast featuring Marc van Zadelhoff, vice president of strategy and product management at IBM, and Yishay Yovel, vice president of marketing at Trusteer, discussing why the companies are better together and what's ahead.