IBM has signed a definitive agreement to acquire cybersecurity firm Trusteer and will subsequently form a software lab in Israel consisting of more than 200 Trusteer and IBM researchers and developers to "focus on mobile and application security, advanced threat, malware, counter-fraud, and financial crimes," IBM announced today.
Trusteer already has an office in Israel, along with Boston, and counts seven of the top 10 U.S. banks and nine of the top 10 U.K. banks as clients, according to IBM's press release. IBM also already has research and development facilities in Israel. Trusteer helps organization protect Web applications, employee and customer computers, and mobile devices from financial fraud and security threats. Trusteer was founded in 2006.
Brendan Hannigan, general manager of IBM's security division, was quoted as saying, "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."
The deal is expected to close in Q3 of 2013, and is subject to customary closing conditions. Financial terms of the acquisition were not disclosed.
-- Material from The Associated Press was used in this report.
The article IBM to Acquire Cloud-Based IT Security Firm originally appeared on Fool.com.
Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool owns shares of International Business Machines. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.