Trusteer, a Israeli security company has been acquired by Tech Giant IBM. The deal was not disclosed but according to a Israeli Newspaper Calcalist it was in hundreds of million dollars.
Recently IBM also acquired security analytics company Q1 Labs and many other security firms in recent years. IBM’s security system division’s general manager Brendan Hannigan quoted :
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. 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.”
The security firm since its formation in 2006 has some of the top clients such as HSBC & Santadar also in Europe it has 9 out of 10 top banks.
The technology is installed in client side server and uses cloud database and reputational algorithms to detect threats and potential frauds and detects the client when any infected or suspicious devices are gaining access .
Also the company launched a Mobile fraudulent detection service named as Risk Engine which gathers device data, Geo location of devices and user behavior.
IBM is also setting up IBM Cybersecurity Software Lab. in Tel Aviv where 200 IBM & Trusteer will be working on research and development for future threats.