IBM announced on Thursday that it has entered into a definitive agreement to acquire security company Trusteer.
With the news, IBM is launching a cybersecurity software lab in Israel, which it says will bring together over 200 Trusteer and IBM researchers and developers to focus on mobile security, advanced cyber threats, malware, counter-fraud, and financial crimes.
"Trusteer's cybersecurity protection will help IBM protect millions of client endpoints, including smartphones and tablets," an IBM spokesperson tells WebProNews. "Malware installed on a bank customer's PC or smartphone, for example, can generate fraudulent transactions. Trusteer solutions help financial institutions and other commerce companies identify and help remove malware on remote devices. Seven of the top 10 U.S. banks and nine of the top 10 U.K. banks use Trusteer’s solutions to help secure customer accounts against financial fraud and cyber attacks."
"The new Israeli Cybersecurity Software Lab will combine Trusteer's and IBM's research and global expertise in global fraud intelligence and malware to help provide organizations with protection in a constantly evolving threat landscape," the spokesperson says. "Trusteer analyzes data gathered from more than 30 million endpoints that it currently protects, using data analytics to develop real-time, actionable intelligence that will be incorporated into IBM’s security products and services. This lab will focus on mobile and application security, as well as advanced fraud and malware detection."
IBM believes it is "well-poised" to take advantage of the $28 billion cyber security market as it operates one of the broadest security research and development organizations in the world. The company monitors 15 billion security events per day in over 130 countries and holds over 3,000 security patents.
“Trusteer’s expertise and superior technology in enterprise endpoint defense and advanced malware prevention will help our clients across all industries address the constantly evolving threats they are facing,” said Brendan Hannigan, General Manager, Security Systems Division, IBM. “Together with IBM’s capabilities in advanced threat detection, analysis and remediation, we will now be able to offer our clients several additional layers of defense against sophisticated attackers.”
“The way organizations protect data is quickly evolving,” said Mickey Boodaei, CEO, Trusteer. “As attacks become more sophisticated, traditional approaches to securing enterprise and mobile data are no longer valid. Trusteer has helped hundreds of large banks and organizations around the world defeat thousands of sophisticated attacks using innovative solutions that combine intelligence, cloud, mobile, and desktop technologies.”
IBM has already acquired about a dozen other security software companies, including Guardium, Big Fix, Watchfire and Internet Security Systems. In 2011, the company acquired Q1 Labs, the analytics capabilities of which are the foundation for IBM's Security Systems division.
Terms of the deal were not disclosed, but TechCrunch says it has a source that suggests it's around $1 billion.