IBM acquired security company Trusteer today in order to create a security-focused software lab in Israel.
Though IBM and Trusteer are not releasing the terms of their deal, it may have had a hefty price tag of $1 billion, according to TechCrunch. The company only took on $10 million in funding, which means that, if the reported price is true, Trusteer’s investors are very happy today.
Trusteer provides broad security software solutions and competes with companies like Symantec and McAfee. Its customers include seven of the top 10 U.S. banks and nine of the top 10 U.K. banks, according to a statement from IBM. Both Symantec and McAfee have their own research arms.
IBM explained that Trusteer can protect your company from more than just Web-based malware. It can also monitor mobile financial transactions by ensuring there is no malware already on the phone and that no one is tampering with the transaction.
IBM also has an existing research and development business in Israel, athough this will be its first focus on Internet security. The company says it will study a range of security issues in its lab, including mobile and application security, APTs (advanced persistent threats), malware, financial crimes, and more.
Trusteer was founded in 2006 and is based in Boston. The company has a separate office in Tel Aviv.