IBM announced Thursday that it's purchased Trusteer, an Israeli software developer that specializes in cybersecurity and fraud prevention. IBM plans to combine Trusteer’s Tel Aviv office with IBM’s research and development facilities to build a cybersecurity lab in Israel with more than 200 researchers focusing on mobile and application security, malware, fraud and financial crime.
Trusteer builds software to help companies identify advanced security threats on mobile devices. Seven of the top 10 U.S. banks and nine of the top 10 U.K. banks use Trusteer to protect money transfers on mobile devices.
Hackers continue to develop more advanced methods of cybercrime, especially on mobile devices. A recent report found more than 718,000 pieces of malware on the Android ecosystem. Brendan Hannigan, the general manager of the security systems division at IBM, said the partnership will help companies across all industries combat the threat.
“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 hackers,” Hannigan said in a press release.
The acquisition will also help IBM advance its plans for cloud-based services as Trusteer delivers its software through the cloud. IBM purchased SoftLayer, a cloud computing provider, in June for $2 billion, according to ZDNet. The deal is expected to close in Q3 2013, but the financial details have not been disclosed.
Originally from Northern California, Ryan W. Neal came to New York to earn his master's in journalism from Columbia University. He joined IB Times April 2013, and is a writer...