IBM completes Trusteer acquisition for $630m

IBM: Trusteer will extend our data security capabilities further into the cloud, mobile and endpoint security space.

IBM Corporation (NYSE: IBM) today completed its acquisition of information security and fraud solutions developer Trusteer Ltd., barely three weeks after announcing the acquisition on August 15. The companies did not disclose the terms of the acquisition, but it was reportedly for $630 million.

"The acquisition of Trusteer builds on more than 40 years of IBMs rich contribution to the security space, said IBM Security Systems general manager Brendan Hannigan. Trusteer will extend our data security capabilities further into the cloud, mobile and endpoint security space. This acquisition helps provide our clients with comprehensive network and endpoint anti-malware solutions."

IBM is establishing a new cybersecurity software lab in Israel, which will bring together more than 200 Trusteer and IBM researchers and developers to focus on mobile and application security, advanced threat protection, malware, counter-fraud, and financial crimes. This lab is an addition to IBMs existing R&D facilities in Israel.

Trusteer will provide IBM with comprehensive anti-fraud and advanced persistent threat (APT) protection to protect computers, smartphones, and tablets from malware and fraudulent activity, as well as cloud-based security solutions that will complement IBM's more than 100 Software as a Service (SaaS) solutions, mobile transactions security, and the prevention of account takeover by detecting compromised devices, complex device fingerprinting, and a global fraudster database.

Published by Globes [online], Israel business news - www.globes-online.com - on September 3, 2013

Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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