IBM has purchased Trusteer, a provider of endpoint cybercrime prevention solutions, in order to upgrade the protection level for its cloud-delivered software and services.
Financial terms of the acquisition have not been revealed, but according to online media outlet Search Security, the Israeli press has estimated it is worth between USD 800 million and USD 1 billion.
In addition, IBM is setting up a cybersecurity software lab in Israel that will enable more than 200 Trusteer and IBM researchers and developers to focus on mobile and application security, advanced threats, malware, counter-fraud and financial crimes.
Trusteer's solutions are used by US and UK-based banks to help ensure banking customers can safely transfer money on their mobile devices. The company's software, for example, is aimed at detecting malware infecting a smartphone so banks can block fraudulent behaviour and account takeover before a single transaction even occurs.
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Source: http://feedproxy.google.com/~r/ThePaypersE-identity/~3/toY3tLK_WTY/752207-26
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