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IBM Closes Acquisition of Q1Labs; CEO Hannigan to Head New IBM Security Systems Division
Enterprise Management Associates, Nov 2011, Pages: 3
On October 26, 2011, IBM Corporation (NYSE:IBM) announced that it had closed its acquisition of Waltham, Massachusetts-based Q1Labs, a leader of a new generation Security Information and Event Management (SIEM) technology, what Q1 Labs refers to as Security Intelligence, for undisclosed terms. The acquisition addresses IBM's challenges in the space with a well-received solution based on a more automated and scalable approach to SIEM than many previous tools. It also gives IBM a stronger position for a future where more data-driven approaches to security management are expected to prevail, aligning with IBM's considerable assets in data management and analytics.
Following the acquisition, Q1Labs CEO Brendan Hannigan will become General Manager of IBM's newly formed Security Systems division, succeeding well-respected IBM veteran Steve Robinson who has headed IBM's security initiatives for the past year and will remain a key leader in the new division. The transformation of IBM's security products business into a division in its own right reinforces IBM's commitment to a market estimated by the company to be a $94 billion opportunity with a compound annual growth rate of nearly 12 percent. With the almost simultaneous election of sales star Virginia Rometty as IBM's new CEO, the new security division enriched by a recently acquired team with proven success against established competitors is expected to heighten IBM's challenge to security leaders, capitalizing on growing opportunities for intelligence and analytics to transform the enterprise in multiple ways.
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