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IBM Announces Intention to Acquire Trusteer


Today we are pleased to announce that IBM has entered into a definitive agreement to acquire Trusteer, a leader in advanced fraud and malware defense.  Upon close, Trusteer will join the growing IBM Security Systems organization and will significantly enhance IBM’s capabilities around web fraud prevention, endpoint security and advanced malware defense.

Trusteer will additionally play a key role in strengthening IBM’s broader endpoint and mobile device management capabilities as well as our Smarter Commerce portfolio.

IBM is committed to delivering security both for and from the cloud, and Trusteer’s SaaS architecture delivers real-time threat intelligence to the over 30 million endpoints around the world that are currently leveraging their capabilities.

As many of you might already know, Trusteer has been developing a significant footprint in the financial services sector over the course of the last several years with a focus on fighting fraud resulting from malware on consumer endpoints. Trusteer developed a set of endpoint defense capabilities that banks purchase and then make available to their own customers to help address this challenge.

IBM has extensive experience working with the financial services sector community, including tackling challenges associated with security, risk management and fraud and Trusteer’s capabilities will help us to deliver a more complete and specific set of fraud prevention capabilities.  Additionally, clients will get substantial benefit as Trusteer’s capabilities are more directly integrated into IBM’s respective security, mobile and commerce capabilities.

Through extensive research on the installation and behavior of malware used in fraud and organized crime, Trusteer has developed an approach to application control that profiles the behavior of common endpoint applications and web browsers and then blocks the application from performing actions that are out of the ordinary.

 

Trusteer has achieved remarkable success in this space, saving banks a lot money and consumers all of the pains and headaches associated with being a victim of fraud.  Trusteer now boasts as its customers seven of the top ten U.S. banks, nine of the top ten U.K. banks and is successfully expanding globally.

This success and expertise has positioned Trusteer strongly to apply its technologies to the enterprise endpoint defense and advanced malware prevention space.  This is a logical extension for a company with such an extensive, existing understanding of malware and how to combat it.  Taken in combination with IBM’s other capabilities in the advanced threat detection, analysis and remediation space, IBM will now be able to offer our clients several layers of defense against sophisticated attackers.

As mentioned previously, one of the driving factors of Trusteer’s success was found in their commitment to, and excellence in, malware research and threat intelligence, and one of the things we are most looking forward to is the Trusteer research team expanding IBM’s existing security research capabilities, most notably IBM X-Force.  When combined with the teams we also have in IBM Research, IBM now has an extensive research footprint in vulnerability research, IP reputation and malware installation and behavior.

We look forward to working with the Trusteer team and their customers over the months and years ahead.

Press Release: IBM to Acquire Trusteer

IBM to Acquire Trusteer to Help Companies Combat Financial Fraud and Advanced Security Threats

New IBM Cybersecurity Software Lab in Israel will focus on mobile and application security, counter-fraud and malware detection

ARMONK, NY, – 15 August 2013: IBM (NYSE: IBM) today announced a definitive agreement to acquire Trusteer, a leading provider of software that helps protect organizations against financial fraud and advanced security threats. The acquisition of Trusteer advances the investment IBM is making in cloud-delivered software and services. Financial terms were not disclosed.

As part of this announcement, IBM is forming a cybersecurity software lab in Israel that will bring together more than 200 Trusteer and IBM researchers and developers to focus on mobile and application security, advanced threat, malware, counter-fraud, and financial crimes. This lab is an addition to IBM’s existing research and development facilities in Israel.

With offices located in Boston and Tel Aviv, Israel, Trusteer helps hundreds of organizations including many financial institutions protect Web applications, employee and customer computers, and mobile devices from threats. Cybercriminals are becoming increasingly efficient in creating and deploying attacks to bypass existing security controls.

Trusteer software can identify security threats that can be missed by traditional security software. For example, to help ensure that banking customers can safely transfer money on a mobile device, Trusteer software performs detection of malware that can infect a smartphone, enabling the bank to take steps to prevent fraudulent behavior and account takeover before the transaction occurs. Seven of the top 10 U.S. banks and nine of the top 10 U.K. banks use Trusteer’s solutions to help secure customer accounts against financial fraud and cyber attacks.

“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,” said Brendan Hannigan, General Manager, Security Systems Division, IBM. “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 attackers.”

“The way organizations protect data is quickly evolving,” said Mickey Boodaei, CEO, Trusteer. “As attacks become more sophisticated, traditional approaches to securing enterprise and mobile data are no longer valid. Trusteer has helped hundreds of large banks and organizations around the world defeat thousands of sophisticated attacks using innovative solutions that combine intelligence, cloud, mobile, and desktop technologies.”

Among the capabilities Trusteer will bring to the IBM security portfolio:

Security as a Service Delivered through the Cloud

Cloud-delivered security solutions by Trusteer will complement more than 100 Software as a Service (SaaS) solutions offered by IBM.  In addition to traditional IT solutions, Trusteer leverages SaaS architecture to enable protected PCs, desktops, smartphones and tablets to rapidly adapt against emerging threats. Because Trusteer software can be delivered through the cloud, organizations can receive accurate, real-time updates on malicious activities and the latest threats, better protecting data from fraud and compromise.

Comprehensive Counter-Fraud and Advanced Persistent Threat (APT) Protection

Trusteer’s cybersecurity protection can scale to help protect tens of millions of endpoints, including smartphones and tablets. One of the primary targets of malware attacks are consumer endpoints. Malware installed on a bank customer’s PC or smartphone, for example, can generate fraudulent transactions. Additionally, malware and phishing can help attackers steal credentials and other personal data. Financial malware and fraudulent activity can be identified and removed using solutions from Trusteer.

The acquisition of Trusteer will complement IBM’s advanced portfolio of counter- fraud software and services, including QRadar, i2, SPSS, InfoSphere and Enterprise Content Management. These capabilities offer predictive, content and investigative analytics to help prevent and solve cases of fraud for private and public sector organizations.

Helping to Secure Mobile Transactions

Of the top 25 US financial institutions, about half are offering mobile person-to-person transfers and mobile remote deposit capabilities, a figure that has more than doubled since 2011. This steady increase in adoption is putting the mobile channel in the crosshairs of account takeover attacks that are launched using credentials stolen from customers via phishing and malware attacks. Trusteer can help provide account takeover prevention, compromised device detection, complex device fingerprinting and a global fraudster database.

Cybersecurity Software Lab

IBM is also announcing that it will combine its Israeli software security research and development team along with Trusteer’s research and development team in Tel Aviv to form an IBM Cybersecurity Software Lab. This lab will focus on mobile and application security, as well as advanced fraud and malware detection. Trusteer’s research and global expertise in fraud intelligence and malware helps provide organizations with protection in a constantly evolving threat landscape. This is done by analyzing data gathered from more than 30 million endpoints, using data analytics to develop real-time, actionable intelligence that will be incorporated into IBM’s security products and services.

About IBM Security

IBM provides the security intelligence to help organizations protect their people, data, applications and infrastructure. IBM operates one of the world’s broadest security research and development organizations. IBM manages and monitors 15 billion security events every day for nearly 4,000 clients around the world and holds more than 3,000 security patents. For more information on IBM security, please visit: ibm.com/security

To listen to a podcast discussing today’s announcement, please visit http://securityintelligence.com/resources/ibm-announces-intention-to-acquire-trusteer

To view a short video discussing today’s announcement, please visit http://securityintelligence.com/resources/ibm-announces-intention-to-acquire-trusteer-video

About Trusteer

Trusteer is a leading provider of endpoint cybercrime prevention solutions that help protect organizations against financial losses and data breaches. Hundreds of organizations and millions of end users rely on Trusteer to protect managed and unmanaged endpoints against exploitation and compromise by online threats often invisible to legacy security solutions. Trusteer was founded in 2006 by Mickey Boodaei, Rakesh Loonkar, Amit Klein, Shmulik Regev, and Eldan Ben-Haim and is backed by U.S. Venture Partners and Shlomo Kramer.

Media Contacts:

Tod Freeman

IBM Media Relations

415-320-5893

[email protected]

 

Rachel Yaacobi

IBM Media Relations, Israel

+972-52-2554752

[email protected]

Press Release: IBM Closes on Acquisition of Trusteer

IBM Closes on Acquisition of Trusteer

Cybersecurity software lab will focus on mobile and application security

ARMONK, N.Y – 03 Sep 2013: IBM (NYSE: IBM) today announced that it has completed the acquisition of Trusteer, Ltd., a privately held leading provider of software that helps protect organizations against fraud and advanced security threats. On August 15, IBM announced that it had entered into a definitive agreement to acquire Trusteer. Financial terms were not disclosed.

“The acquisition of Trusteer builds on more than 40 years of IBM’s rich contribution to the security space,” said Brendan Hannigan, General Manager, IBM Security Systems. “Trusteer will extend our data security capabilities further into the cloud, mobile and endpoint security space. This acquisition helps provide our clients with comprehensive network and endpoint anti-malware solutions.”

Also announced on August 15, IBM is forming a cybersecurity software lab in Israel that will bring together more than 200 Trusteer and IBM researchers and developers to focus on mobile and application security, advanced threat protection, malware, counter-fraud, and financial crimes. This lab is an addition to IBM’s existing research and development facilities in Israel.

“This acquisition is further proof that IBM is serious about providing clients with the security intelligence capabilities to help protect organizations in a constantly evolving threat landscape,” said John Johnson, Global Security Strategist, John Deere. “As part of IBM, Trusteer’s counter-fraud capabilities, along with the creation of a cybersecurity software lab, will help make advances in counter-fraud and malware protection.”

Among the capabilities Trusteer will bring to the IBM security portfolio:

Comprehensive Counter-Fraud and Advanced Persistent Threat (APT) Protection

Trusteer’s cybersecurity protection scales to help protect tens of millions of endpoints, including smartphones and tablets. Malware and fraudulent activity can be identified and removed using solutions from Trusteer.

Security as a Service Delivered through the Cloud

Cloud-delivered security solutions by Trusteer will complement more than 100 Software as a Service (SaaS) solutions offered by IBM. Because Trusteer software can be delivered through the cloud, organizations can receive accurate, real-time updates on malicious activities and the latest threats, better protecting data from fraud and compromise.

Helping to Secure Mobile Transactions

Trusteer can help provide account takeover prevention with compromised device detection, complex device fingerprinting and a global fraudster database.

About IBM Security

IBM provides the security intelligence to help organizations protect their people, data, applications and infrastructure. IBM operates one of the world’s broadest security research and development organizations. IBM manages and monitors 15 billion security events every day for nearly 4,000 clients around the world and holds more than 3,000 security patents. For more information on IBM security, please visit: ibm.com/security

F.A.Q.

Trusteer Acquisition – Frequently Asked Questions

Purpose

The purpose of this document is to address particular questions and provide additional insight about IBM’s agreement to acquire Trusteer. The full press release can be found in the section above.

1. What are you announcing?

On September 3 2013, IBM announced it closed the acquisition of Trusteer. Trusteer is a leading provider of web fraud and advanced threat protection solutions.

2. Who is Trusteer? What do they do?

Founded in 2006, Trusteer, with offices in Boston and Tel Aviv, is a leading provider of web fraud and advanced threat protection solutions that help protect organizations against financial fraud and data breaches. Hundreds of organizations and millions of end users rely on Trusteer to help protect their web applications, computers and mobile devices from online threats that are invisible to legacy security solutions. Trusteer’s Cybercrime Prevention Architecture combines multi-layer security software with real-time threat intelligence to achieve sustainable protection against malware and phishing attacks and help meet regulatory compliance requirements. Leading online banking providers and global organizations including 7 of the top 10 US banks and leading financial institutions in the UK, Canada, and Australia use Trusteer’s solutions. Trusteer has been positioned as a Leader in Gartner’s Magic Quadrant for Web Fraud in 2012 and 2013 and is a winner of multiple product and innovation awards.

3. Why did IBM acquire Trusteer?

Trusteer strengthens IBM’s overall security strategy with broader threat intelligence, additional security expertise and unique integrations across the IBM Security Framework – including leading capabilities to help prevent advanced fraud and cyber-attacks. IBM has made a significant commitment to security and Trusteer will help accelerate strategy and time to market with an offering that is easy to deploy use and manage, including a Security as a Service (SAAS) option which requires no footprint in the data center. Trusteer will also position IBM to develop and grow a Security Lab in Israel focused on advanced fraud and malware research and associated protection solutions.

4. How will Trusteer fit within the IBM software portfolio?

The Trusteer offering will become a strategic part of the Security Systems portfolio within IBM Software Group. Since the IBM Security Systems Division was created in 2011 with the acquisition of Q1 Labs, there have been numerous examples of how we have integrated our security and mobility products with IBM products in order to provide better and more competitive solutions for our clients.

With the Trusteer acquisition, IBM will extend its Think Integrated strategy and intends to deliver an integrated solution that augments IBM security offerings to clients in the following areas:

  • New capabilities for Advanced Threat Protection (Security Intelligence, Threat)
  • Enhanced Threat Intelligence across products (IBM X-Force)
  • Extend the reach of Trusteer Fraud Prevention (IBM WebSphere and Smarter Commerce)
  • Mobile integrations (IBM Worklight, IBM Endpoint Manager)
  • Risk based authentication (IBM Security Access Manager)

5. How will Trusteer clients benefit?

Trusteer clients will benefit from the combined technologies and skills of both companies, including increased investment in research and development, global reach, industry expertise, and support available from IBM, along with IBM’s commitment to innovation.

IBM will continue to support and enhance Trusteer’s technologies and clients while allowing them to take advantage of the broader IBM portfolio, including Security, IBM Endpoint Manager, IBM Worklight, and other Smarter Commerce solutions, as well as enhanced service options from IBM Global Services and increased international support (people, product localization, etc.).

6. How will the acquisition affect Trusteer Business Partners?

Business Partners will continue to operate as Business Partners of Trusteer.  IBM intends to extend and grow with the skilled Business Partner community that has helped make Trusteer successful. As IBM works to deliver portfolio enhancements based on Trusteer technology, Business Partners are encouraged to find out more about establishing a deeper relationship with IBM by visiting IBM PartnerWorld.

7. How will the Trusteer team fit organizationally within IBM?

Trusteer will become part of Security Systems Division led by Brendan Hannigan General Manager, which is part of IBM Software Group.

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1 comments
Alicia Sanchez
Alicia Sanchez

Great and important news. Increase our security portfolio capabilites.