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November 30, 2009

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IBM said to buy Guardium

IBM, the world's biggest technology services company, is expected to announce this week the acquisition of database security start-up Guardium for US$225 million, Israeli financial newspaper TheMarker reported.

The transaction is expected to conclude today and will then be announced to the public, TheMarker said yesterday.

Guardium started as an Israeli firm in 2002 but relocated to Boston in 2003. It has about 60 employees and all will profit from the sale, TheMarker cited a source close to the company as saying.

The company had raised US$21 million from venture capital funds such as Ascent Venture Partners, Israel's StageOne Ventures and Veritas, and Cisco Systems, the newspaper said.

Guardium is a subsidiary of Israel's Log-On Software. Officials at Log-On declined to comment on the report.



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