US Venture Partners-backed anti-fraud and online security business Trusteer has been bought by IBM in a deal reportedly worth $700m as the computing giant looks to form a cybersecurity software lab in Israel.
The deal looks set to score USVP and Trusteers’ angel backers a mammoth return, as the firm had only raised $10.1m of investment to date through a 2006 angel round and 2008 Series B.
Market estimates reported by Israeli newspaper Globes put the purchase price at about $700m, although other news organisation have said the deal could be as much as $1bn.
USVP is yet to respond to an emailed request for clarification.
Trusteer, which has offices in Boston and Tel Aviv, helps hundreds of organizations including many financial institutions protect Web applications, employee and customer computers, and mobile devices from threats according to a statement from IBM.
The company was founded in 2006 by Mickey Boodaei, Rakesh Loonkar, Amit Klein, Shmulik Regev, and Eldan Ben-Haim.
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