IBM to acquire security software against financial fraud

IBM has announced an agreement to acquire Trusteer, a provider of software that helps protect organisations against financial fraud and advanced security threats.

The acquisition of Trusteer advances the investment IBM is making in cloud-delivered software and services. Financial terms were not disclosed.

As part of this announcement, IBM is forming a cybersecurity software lab in Israel that will bring together more than 200 Trusteer and IBM researchers and developers to focus on mobile and application security, advanced threat, malware, counter-fraud, and financial crimes. This lab is an addition to IBM’s existing research and development facilities in Israel.

With offices located in Boston and Tel Aviv, Israel, Trusteer works with hundreds of organisations including many financial institutions protect Web applications, employee and customer computers, and mobile devices from threats.

Trusteer software can identify security threats that can be missed by traditional security software. For example, to help ensure that banking customers can safely transfer money on a mobile device, Trusteer software performs detection of malware that can infect a smartphone, enabling the bank to take steps to prevent fraudulent behavior and account takeover before the transaction occurs.

“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,” he concluded.

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