Boston: International Business Machines Corp. (IBM) overtook Japan’s Trend Micro Inc. to become the world’s No. 3 provider of security software last year, after acquiring cybersecurity firm Trusteer, according to market share data released on Tuesday by Gartner Inc.
Symantec Corp. and Intel Corp.’s McAfee Inc. retained their slots as the top two makers of security software in a market whose sales last year rose 4.9% to $19.9 billion, according to the annual survey by the Connecticut-based research firm.
IBM’s revenue from security software climbed 19% to $1.14 billion last year, Gartner said. In a deal announced last August, IBM paid close to $1 billion for Trusteer, whose products help businesses fight malicious software and cyber fraud, as part of an effort to boost its line of security offerings.
Meanwhile, Trend Micro’s sales dropped 5.3% to $1.11 billion, according to the Gartner survey.
Symantec’s revenue fell 0.3% to $3.7 billion. The company replaced its CEO in March, marking the second time it has replaced its leader in two years as its board looks to stimulate revenue growth and its stock price.