Israel Matzav

And again: IBM pays $1 billion for another Israeli company

And the beat goes on. IBM is paying between $630 million and $1 billion for an Israeli cybersecurity company with whom they will set up a cybersecurity lab in Israel.

IBM purchased Trusteer, an Israeli software developer company that specializes in cybersecurity and fraud prevention. IBM announced the acquisition on Thursday, which will bring together over 200 employees from IBM and Trusteer to build a cyber-security lab in Israel.

The researchers at the lab will focus on mobile and application security, malware, fraud and financial crime, IB Times reports.

According to The Jerusalem Post, the companies did not disclose the price of the sale, but Globes estimated it at $630 million, while Army Radio reported it between $800 million and $1 billion.

...

Currently, 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. The company's software helps companies identify advanced security threats on mobile devices, IB Times reports.

"Together with IBM's capabilities in advanced threat detection, analysis and remediation, we'll now be able to offer our clients several additional layers of defense against sophisticated attackers," said Brendan Hannigan, general manager of IBM's security systems division, in a press release.

Just a reminder that I represent these kinds of companies....

Labels: cyberwar, Israeli high tech

posted by Carl in Jerusalem @ 7:27 PM