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IBM buys Trusteer

IBM buys Trusteer 

Founded in 2006, Trusteer provides endpoint solutions that protect organizations against data breaches and financial fraud. Some of the biggest banks in the U.S., the U.K., Canada and Australia use Trusteer software. Analyst firm Gartner positioned the company in its magic quadrant for web fraud detection in 2012 and 2013. Trusteer has won several awards for its innovations and the quality of its products. It had raised slightly over $10 million from venture capitalists and angel investors. If the rumours prove true, Trusteer will have made one of the largest exits from the Israeli enterprise start up sphere in history.  

Trusteer’s cloud-delivered security solutions join the 100 SaaS solutions in IBM’s portfolio. IBM hopes that the cyber security firm will protect its customers with accurate, real-time updates from the latest threats. This purchase also rounds out IBM’s family of counter-fraud software and services, including QRadar, i2, SPSS, InfoSphere and Enterprise Content Management.{mospagebreak}“The way organizations protect data is quickly evolving,” said Mickey Boodaei, CEO, Trusteer. “As attacks become more sophisticated, traditional approaches to securing enterprise and mobile data are no longer valid.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.”

In the same press release announcing the acquisition, IBM reported that it will open a cyber security lab in Tel Aviv. Two hundred Trusteer and IBM employees will work on mobile and application security solutions, as well as advanced threat, malware, counter-fraud, and financial crimes solutions.

“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.”

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