IBM targets cybersecurity space
Over the years, IBM (IBM) has aggressively resorted to acquisitions to not only record growth but also to strengthen its presence in the rapidly growing cloud, security, AI (artificial intelligence), and machine learning spaces, which make up its Strategic Imperatives segment.
Sticking to its acquisition strategy, IBM announced the acquisition of Agile 3 Solutions in January 2017. Agile 3 Solutions is a cybersecurity company that has created a security analytics dashboard. This dashboard enables C-suite[1. highest-level senior management] executives with limited technical expertise to understand breach alerts and security risks within their organization.
Agile 3 Solutions, which was acquired by IBM in February 2017, is now a part of IBM’s Security business unit. IBM also closed the buyout of Ravy Technologies, an Agile 3 Solutions subcontractor.
The Agile 3 buyout is important because C-suite executives are known to have a limited understanding of cybersecurity incidents. According to a survey of 1,530 individuals conducted by Goldsmiths in April 2016, over 90% of corporate executives shared their inability to read and comprehend a cybersecurity incident report.
According to Scoop News, IBM, citing a Gartner research report, stated that “by 2017, 80 percent of IT risk and security organizations will report metrics to non-IT executive decision makers; however, only 20 percent will be considered useful by the target audience.” IBM intends to improve C-suite executives’ understanding of cybersecurity as an avenue to record growth. Fiscal 4Q16 marked the 19th consecutive quarter in which IBM failed to report revenue growth.