Just a month ago, IBM acquired security intelligence analytics company i2 to bolster its business analytics together with crime and fraud prevention. And now, IBM is adding another security intelligence software with the acquisition of privately-held company Q1 Labs. Just like i2, Q1 Labs’ financial terms were also not disclosed.
The Waltham, Massachusetts-based company will join the new IBM Security Systems division to be led by Q1 Labs CEO Brendan Hannigan. The company will help IBM in their efforts of providing intelligently secure enterprises and analytics with their flagship software, QRadar.
The new division will target a $94 billion opportunity in security software and services, which has a nearly 12 percent compound annual growth rate, according to IBM estimates. Q1 Labs will join the more than 10 strategic security acquisitions IBM has made in the last decade and the more than 25 analytics-related purchases, including the recently announced acquisition of security analytics software firm, i2.
Organizations face a landscape with high-impact corporate breaches, growing mobile security concerns and advanced security threats, as highlighted in last week’s IBM X-Force Mid-Year Trend and Risk Report. Firms must be equipped to identify threats, detect insider fraud, predict business risk and address regulatory mandates. Three quarters of firms feel cyberattacks are hard to detect and their effectiveness would increase with end-to-end solutions, according to a recent industry report.
Q1 Lab has more than 1,800 clients internationally, which includes wireless service providers, government agencies, financial and educational institutions, healthcare providers, energy firms, utility companies, and retail organizations. The software company also partners strategically with McAfee, Juniper Networks, Nortel, Enterasys, 3Com, and Foundry Networks.
With the latest acquisition of Q1 Lab, IBM is adding another force to its already strong security assets and makes a clear path on where the company is headed in terms of software and services offerings.