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January 17, 2012

US takeover nets TrustDefender

KAREN DEARNE
From: The Australian January 17, 2012 12:00AM

AUSTRALIAN secure browsing leader TrustDefender has been acquired by US-based ThreatMetrix, a provider of integrated cybercrime prevention tools, for an undisclosed sum.

The privately held TrustDefender will operate under the ThreatMetrix brand in Australia, US and Europe, from headquarters in San Jose.

TrustDefender co-founder and chief executive Andreas Baumhof, who will join ThreatMetrix as chief technology officer, said the acquisition addressed the “growing global malware threat”.

“Last year we saw a huge increase in sophisticated man-in-the-browser (MitB) Trojan activities supporting fraudulent transactions with stolen identities,” Mr Baumhof said. “Malware protection and fraud prevention are closely related, yet no truly integrated solutions have been available in the market.

“This merger allows ThreatMetrix to address the threats as a single problem.”

TrustDefender is recognised for its MitB technologies, which aim to stop attacks during secure browsing sessions such as online banking.

Initially operating as a consumer protection business, in recent years TrustDefender has expanded to provide real-time, risk-based online transaction security for financial institutions, e-commerce operations and government agencies.

ThreatMetrix chief executive Reed Taussig said the natural synergies between device identification and secure browsing were obvious.

“Successful transaction profiling requires sophisticated malware detection and intelligent device identification to determine if the device is compromised or is the transaction is fraudulent,” Mr Taussig said.

“While customers have recognised this for a long time, the only solution until now was to implement multiple products across different vendors.

“By integrating device ID and secure browsing into a single product, we will be offering the most complete online fraud management package in the marketplace.”

ThreatMetrix will add Trust-Defender’s cloud-based ID, MitB and malware detection capabilities to its Cybercrime Defender platform.

It will also offer TrustDefender’s downloadable Client to secure devices against malware threats during remote access sessions.