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IBM to Expand Security Portfolio to Combat Financial Fraud and Advanced Threats.
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Trusteer’s founders CEO Mickey Boodaei
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/ By Alan Gallindoss/
IBM announced today it has entered into a definitive agreement to acquire web security company Trusteer, a privately held business with locations in Boston in the United States and in Tel Aviv, Israel. Financial details of the transaction were not disclosed, but according to some estimates the total acquisition cost could be as high as US$800 – 900 million, including payouts to a number of employees of Trusteer.
Once the transaction closes Trusteer will join IBM’s growing security systems organization, and the acquisition will significantly enhance IBM’s capabilities in the areas of web fraud prevention, endpoint security and advanced malware defense.
Trusteer is a leading provider of advanced security and threat intelligence solutions that help protect organizations against financial fraud on the web, malware and data breaches. As part of their announcement, IBM is forming a new cyber-security software laboratory in Israel that will bring together more than 200 Trusteer and IBM researchers and developers. This expanded group will focus on advanced threat, malware, counter-fraud, financial crimes and mobile security solutions.
Trusteer’s founders CEO Mickey Boodaei and President Rakesh Loonkar should be pretty happy with the deal as they also get to play in a much bigger sandbox now, continuing to develop their favorite specialty.
Trusteer’s solutions will integrate with and complement IBM’s existing security offerings in the areas of fraud protection, advanced persistent threat protection, zero-day vulnerabilities, endpoint security and threat intelligence services. The acquisition will strengthen IBM’s leadership position in enterprise cyber security and help protect web applications, computer networks and mobile devices around the world.
Hundreds of financial institutions and other organizations already rely on Trusteer to protect their web applications, and employee and customers computers and mobile devices from online threats that are often invisible to old, legacy security solutions.
Trusteer combines multi-layer security software with real-time threat intelligence designed to achieve sustainable protection against malware and phishing attacks and help customers meet regulatory compliance requirements.
Seven of the ten top U.S. banks and nine of the top ten U.K. banks already use Trusteer’s solutions to better secure customer accounts against financial fraud and cyber attacks.
IBM is committed to delivering security both for and from the cloud as well, and Trusteer’s software as a service architecture delivers real-time threat intelligence to the over 30 million endpoints around the world that are currently leveraging their capabilities.
This acquisition transaction is of course subject to the customary closing conditions and is expected to close in the third quarter of 2013.
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