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IBM snaps up banking security biz Trusteer, won't say what it paid

Reveals plans to extend Israel-based R&D facility

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IBM has announced a deal to acquire transaction security firm Trusteer and open a new cybersecurity lab in Israel. Financial terms of the buyout, announced Thursday, were not disclosed.

Big Blue said the deal would allow it to offer improved cloud-delivered software and services to defend against advanced security threats to its customers.

IBM's plans to set up a cybersecurity software lab in Israel will bring together more than 200 Trusteer and IBM researchers and developers, focusing on mobile and application security, as well as advanced fraud and malware detection.

The lab will be an addition to IBM’s existing research and development facilities in Israel.

Trusteer's Rapport browser lock-down technology is offered as a voluntary download by 50 banks worldwide, including NatWest and HSBC in the UK. US customers include ING Direct USA; eBay and PayPal also offer it to their customers as protection against banking Trojans.

Seven of the top 10 US banks and nine of the top 10 UK banks use Trusteer’s products and services to help secure customer accounts against financial fraud and cyber attacks.

Earlier this year Trusteer expanded its portfolio to offer enterprise-level products and services designed to guard against zero-day exploits and social engineering, called Trusteer Apex.

The acquisition of Trusteer will add to IBM’s existing portfolio of counter-fraud software and services, including QRadar, i2, SPSS, InfoSphere and Enterprise Content Management. ®

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