IBM Completes Acquisition of Trusteer

IBM announced on Tuesday that it has completed the acquisition of Trusteer, a Boston-based provider of fraud and advanced threat protection solutions.

The close of the acquisition comes just over two weeks after IBM announced that it had entered into a definitive agreement to acquire the security firm.

Financial terms were not disclosed, but some reports said IBM paid between $800 million to $1 billion to acquire Trusteer, with Techcrunch citing a source saying it was the latter of the two.

“Trusteer will extend our data security capabilities further into the cloud, mobile and endpoint security space,” said Brendan Hannigan, General Manager, IBM Security Systems. “This acquisition helps provide our clients with comprehensive network and endpoint anti-malware solutions.”

“I think Trusteer has interesting technology that fills a big hole in IBM’s product line in terms of being able to deal with advanced malware,” Mike Rothman, Analyst and President at security advisory firm Securosis, told SecurityWeek previously.

IBM also announced in August that it was 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.

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.

IBM has created a site that provides additional information on the acquisition of Trusteer.