IBM announced yesterday that it has acquired Rome-based cyber security firm CrossIdeas. Although the terms of the deal were not publicly disclosed, IBM said that the CrossIdeas team will work with IBM immediately, operating as an IBM company.
Founded in 2011, CrossIdeas sells security software to manage user access to applications and data across on-premise and cloud environments. As VentureBeat describe, the company uses advanced analytics to verify a user’s identity, grant access to databases, and block backdoors. CrossIdeas also has a consulting services arm too — enabling businesses to reduce access management risks through access certification, role modeling and enforcing strict segregation of duties.
Speaking about how the acquisition will help IBM, Brendan Hannigan, General Manager of IBM Security Systems, said,
“The addition of CrossIdeas extends IBM’s market share leading portfolio of identity and access management capabilities.”
“IBM can now provide enterprises with enhanced governance capabilities and transparency into risk from the factory floor to the board room, giving leaders the insight they need to protect their brand and customers.”
The news of IBM’s acquisition comes after a report from Gartner last month that claimed global security software revenue totalled US$19.9 billion in 2013, a 4.9 percent increase from 2012 revenue of $19.0 billion. IBM’s competitors in the cyber security space include CA Technologies, RSA, Courion and Hitachi ID Systems.
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(Image Credit: Patrick)