Trusteer which provides cloud services and software aimed at providing security against online financial fraud has been approached by IBM as a potential buyer.

Trusteer has experienced “well above the market's growth rates" according to a report published by Gartner earlier this year.

The move to purchase the security company comes as IBM seeks to offer increased security capabilities to clients against increasingly sophisticated threats.

The acquisition of Trusteer's technology according to IBM: "will help our clients across all industries address the constantly evolving threats they are facing".

IBM identifies increase in cloud uptake down under

IBM appointed as innovation partner for Thames Water