IBM has resumed its security shopping spree by grabbing end-point security vendor Trusteer – reportedly for up to $1bn (£642m).
Big Blue confirmed this morning that it is buying the Israeli start-up, which specialises in cybersecurity software for financial institutions, for an undisclosed sum.
On the back of the purchase, it will form a cybersecurity lab in Israel focusing on mobile and application security, advanced threat, malware, counter-fraud and financial crimes. It will be manned by more than 200 Trusteer and IBM researchers and developers.
IBM is becoming something of a connoisseur when it comes to acquiring emerging security players, chomping SIEM specialist Q1 Labs in 2011 and database security outfit Guardium a year earlier, among others.
The super-sized vendor said Trusteer's software would help it protect its clients against financial fraud and advanced security threats. Nine out of the top 10 UK banks use Trusteer's solutions to help secure customer accounts against financial fraud and cyberattacks, IBM said.
"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 defence against sophisticated attackers," said Brendan Hannigan, general manager, Security Systems Division at IBM. According to Tech Crunch, Israeli newspaper Calcalist has reported that IBM shelled out between $800m and $1bn to get its man.
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