International Business Machines (NYSE:IBM) announced that it has signed a definitive agreement to acquire Israel-based Trusteer, a security software company. [1] While the financial terms of the deal have not been disclosed yet, Bloomberg said the acquisition is worth around $800 million citing a person familiar with the deal.
In its 2015 roadmap, IBM stated that cloud computing will be the key driver for revenue growth and has spent billions of dollars building its cloud business globally with a number of acquisitions in the past three years that includes Softlayer, Keneax, DemandTec and Sterling Commerce, etc.
This acquisition will bolster IBM's SmartCloud service division and will be a significant addition to its cloud based Software-as-a-Service (SaaS) business.
client base that includes seven of the top 10 U.S. banks and nine of the top 10 U.K. banks. Following the acquisition, IBM plans to set up a cyber security software lab in Israel where more than 200 Trusteer employees will work alongside IBM researchers and software developers on fraud detection and prevention solutions for applications and mobile platforms.