IBM purchased Trusteer, an Israeli software developer company that specializes in cybersecurity and fraud prevention. IBM announced the acquisition on Thursday, which will bring together over 200 employees from IBM and Trusteer to build a cyber-security lab in Israel.

The researchers at the lab will focus on mobile and application security, malware, fraud and financial crime, IB Times reports.

According to The Jerusalem Post, the companies did not disclose the price of the sale, but Globes estimated it at $630 million, while Army Radio reported it between $800 million and $1 billion.

Mickey Boodaei, the CEO of Trusteer, discussed the company's specialty in cybersecurity.

"As attacks become more sophisticated, traditional approaches to securing enterprise and mobile data are no longer valid," he said.

Advanced malware detection and prevention technologies have to decide what files are good and bad in a short period of time, before they enter virtual environments, Boodaei explained, according to The Jerusalem Post.

"What's unique about our technologies is that we do all that in real time on the end device. We monitor files from the moment they enter and we never stop," he said.

Currently, seven of the top 10 U.S. banks and nine of the top 10 U.K. banks use Trusteer to protect money transfers on mobile devices. The company's software helps companies identify advanced security threats on mobile devices, IB Times reports.

"Together with IBM's capabilities in advanced threat detection, analysis and remediation, we'll now be able to offer our clients several additional layers of defense against sophisticated attackers," said Brendan Hannigan, general manager of IBM's security systems division, in a press release.