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Tuesday, 4 October 2011 - IBM expands in security software with Q1 Labs |
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And Oracle’s day are numbered Related Topics Technology » Tue Oct 4, 2011 11:24am EDT (Reuters) - International Business Machines Corp (IBM) (IBM.N) said it is to buy Q1 Labs, a privately-held security intelligence software provider, as it looks to tap into a growing market for security software. The deal, for an undisclosed sum, comes amid concerns over cyber security in the wake of high-profile cyber attacks on targets ranging from Sony Corp (6758.T) to the International Monetary Fund. IBM, which sees the security software and services business as a $94 billion market opportunity, has been buying analytics companies to beef up its security offerings. In five years, IBM has spent more than $14 billion on 25 deals focused on analytics to help its customers deal with the huge volumes of unstructured data from sources such as social media, biometrics and criminal databases. In August, it bought British security analytics software firm i2, also for an undisclosed sum, and last month acquired Toronto-based risk analytics software firm Algorithmics for $387 million in cash. Last year, Intel Corp (INTC.O) paid $7.68 billion for data security firm McAfee Inc. Waltham, Massachusetts-based Q1 Labs -- which provides software for collecting, storing, analyzing and querying log, threat, vulnerability and risk-related data -- will become part of the IBM's newly-formed security systems division. Q1 Labs, founded in 2001, has more than 1,800 clients globally, and counts Polaris Venture Partners, Menlo Ventures, BDC Venture Capital and Globespan Capital Partners among its investors. Q1 Labs CEO Brendan Hannigan will head up the new IBM division, helping clients tackle corporate security breaches, growing mobile security concerns and advanced security threats. IBM shares were down 1.2 percent at $171.20 in morning trade on Tuesday on the New York Stock Exchange, in line with the broader share market .DJI. (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Ian Geoghegan) Technology Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?)   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Contact Us Advertise With Us Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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