IBM targets $94-bn security software market through Q1 Labs acquisition

Technology giant International Business Machines (IBM) yesterday said that it will acquire privately held security software provider Q1 Labs, for an undisclosed sum.

The acquisition will enable IBM to expand into the growing cyber security software market that has recently reaped a windfall from escalated cyber attacks.

The acquisition comes after Intel Corp last year acquired data security firm McAfee for $7.68 billion and Hewlett-Packard bought security software company ArcSight for $1.5 billion.

Waltham, Massachusetts-based Q1 Labs software collects and analyses information from hundreds of sources across an organisation such as the network, applications, user activity, mobile endpoints, and physical security devices such as badge readers - including both cloud-based and on-premise sources.  

Its security information and event management (SIEM) software also helps IT staff and auditors manage the tracking of security incidents and model risk to better protect the company's IT infrastructure. 

Q1 Labs has more than 1,800 clients globally, including healthcare providers, energy firms, retail organisations, utility companies, financial institutions, government agencies, educational institutions, and wireless service providers.