IBM buys cloud based cyber security firm Trusteer

IBM has acquired cyber security firm Trusteer, a producer of cloud based software that helps protect organisations against financial fraud and advanced security threats, in an undisclosed deal.

The purchase is part of a wider investment to develop IBM's cloud-delivered software and services the firm said in a statement.

As part of the move, IBM is opening a cybersecurity software lab in Israel, where Trusteer is already based. The lab will host over 200 Trusteer and IBM researchers and developers and focus on mobile and application security, advanced threat, malware, counter-fraud, and financial crime prevention.

Trusteer produces cloud based security solutions that allows organisations to receive accurate, real-time updates on malicious activities and the latest threats, rather than having to wait for software updates. The cloud-delivered service by Trusteer will be combined with the 100 plus software based solutions currently offered by IBM.

Trusteer has also placed a large focus on defending against threats to smartphones and tablet, something which is becoming increasingly important with the rise of mobile banking and person-to-person transfers. Seven of the top 10 US banks and nine of the top 10 UK banks currently use Trusteer to help secure customer accounts against financial fraud and cyber attacks.

"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," said Brendan Hannigan, General Manager, Security Systems Division, IBM.

"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."

Mickey Boodaei, CEO Trusteer added: "As attacks become more sophisticated, traditional approaches to securing enterprise and mobile data are no longer valid.

"Trusteer has helped hundreds of large banks and organizations around the world defeat thousands of sophisticated attacks using innovative solutions that combine intelligence, cloud, mobile, and desktop technologies."