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IATI - Israel Advanced Technology Industries
IATI News & Events Daily Industry News IBM buys Israeli data security co Trusteer for $800-900 m

IBM buys Israeli data security co Trusteer for $800-900 m

Aug. 15, 2013

IBM has announced the acquisition of Israeli data security company Trusteer. Financial details of the transaction were not disclosed, but according to market estimates the price is $800-900 million. The deal is expected to be closed in the third quarter, subject to the usual conditions.

Trusteer provides software solutions that help enterprises to protect themselves from financial fraud and sophisticated security threats. Seven of the top ten US banks and nine of the top ten UK banks use Trusteer’s solutions. IBM says in its announcement that cloud-delivered security solutions by Trusteer will complement more than 100 Software as a Service (SaaS) solutions offered by IBM.

IBM will set up 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.

For the full Globes news item click here.

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