IBM finalizes acquisition of Trusteer, creates cybersecurity lab
IBM's bid to purchase enterprise security firm Trusteer is complete, bringing the enterprise security firm into the IBM cybersecurity lab fold.
In an announcement Tuesday, the tech giant said that plans to acquire Israeli firm Trusteer have come to a close. The deal was first revealed in August, where the tech giant said that Trusteer's anti-fraud and advanced security threat software would be a welcome addition to IBM's current portfolio.
Trusteer, formed in 2006, is based in Boston, MA and Tel Aviv, Israel. A number of the largest banks in the U.S. and U.K. use the privately-held company's software to detect malware used in financial fraud. Trusteer's aim is to detect problems that traditional security software may miss.
The firm's solutions are delivered through cloud-based technology, which IBM has focused on developing over the past few years.
According to IBM, the acquisition will bring together over 200 Trusteer and IBM researchers & developers in Israel. In addition to IBM's existing R&D center in Israel, the new team will focus on mobile and application security, advanced threat protection, malware, counter-fraud and the prevention of financial crimes.
IBM says that some of the capabilities the acquisition of Trusteer brings to the table include:
- Comprehensive counter-fraud and Advanced Persistent Threat (APT) protection solutions;
- Cloud-delivered security solutions that will complement over 100 Software as a Service (SaaS) solutions;
- Account takeover prevention software with compromised device detection, complex device fingerprinting and a global fraudster database;
- Malware and fraudulent activity identification and removal using Trusteer tools.
Financial terms were not disclosed.
"The acquisition of Trusteer builds on more than 40 years of IBM's rich contribution to the security space," said Brendan Hannigan, General Manager of IBM Security Systems. "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."