IBM said last week that it has signed an agreement to acquire Trusteer, a developer that provides endpoint cybercrime prevention solutions that help protect organizations against financial losses and data breaches. The financial terms of the deal were not disclosed, but Reuters reports that the price tag was close to $1 billion.
According to the company, it is now forming a Cybersecurity Software Lab in Tel Aviv that will combine more than 200 Trusteer and IBM researchers and developers. This team will focus on mobile and application security, advanced threat, malware, counter-fraud, and financial crimes. This lab will be in addition to existing IBM research and development facilities in Israel -- Trusteer will presumably still have an office located in Boston.
"With offices located in Boston and Tel Aviv, Israel, Trusteer helps hundreds of organizations including many financial institutions protect Web applications, employee and customer computers, and mobile devices from threats," IBM said. "Trusteer software can identify security threats that can be missed by traditional security software."
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, IBM said. Its cloud-delivered security products will complement more than 100 Software as a Service (SaaS) solutions offered by IBM, thus organizations will receive accurate, real-time updates on malicious activities and the latest threats.
"Trusteer's cybersecurity protection can scale to help protect tens of millions of endpoints, including smartphones and tablets," IBM said. "The acquisition of Trusteer will complement IBM's advanced portfolio of counter-fraud software and services, including QRadar, i2, SPSS, InfoSphere and Enterprise Content Management. These capabilities offer predictive, content and investigative analytics to help prevent and solve cases of fraud for private and public sector organizations."
Thanks to the acquisition, IBM customers will reportedly be better protected against fraud and malware in a constantly evolving threat landscape. This will be accomplished by analyzing data gathered from more than 30 million endpoints, using data analytics to develop real-time, actionable intelligence that will be incorporated into IBM's security products and services.
"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."
For more information about IBM's security solutions, head here.
Kevin Parrish is a contributing editor and writer for Tom's Hardware,Tom's Games and Tom's Guide. He's also a graphic artist, CAD operator and network administrator.
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