IBM has closed its US$1.3 billion acquisition of security vendor Internet Security Systems.The acquisition, which closed Friday, is the fifth-largest in IBM’s history.By purchasing Atlanta-based ISS, IBM gains a strong position in the $22 billion managed security services market, which IBM sees as strategic to its future growth.ISS will retain its Atlanta offices and will be run as a business unit within IBM’s Global Services group. The ISS business unit will be led by Thomas Noonan, formerly the CEO of ISS. No layoffs are planned as a result of the deal. IBM plans to maintain the ISS Proventia and Managed and Professional Security Services offerings and to eventually integrate them with other products in its portfolio.The security industry is undergoing a round of consolidation as early leaders are being snapped up by larger companies. In June, EMC announced plans to purchase RSA Security, a deal estimated at about $2.1 billion. -Robert McMillan, IDG News Service (San Francisco Bureau)Related Links: IBM’s ISS Bid to Broaden Security Portfolio IBM to Buy Internet Security Systems for $1.3BCheck out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content feature 13 essential skills for accelerating digital transformation IT leaders too often find themselves behind on business-critical transformation efforts due to gaps in the technical, leadership, and business skills necessary to execute and drive change. By Stephanie Overby Jun 05, 2023 12 mins Digital Transformation IT Skills tip 3 things CIOs must do now to accurately hit net-zero targets More than a third of the world’s largest companies are making their net-zero targets public, yet nearly all will fail to hit them if they don’t double the pace of emissions reduction by 2030. This puts leading executives, CIOs in particul By Diana Bersohn and Mauricio Bermudez-Neubauer Jun 05, 2023 5 mins CIO Accenture Emerging Technology case study Merck Life Sciences banks on RPA to streamline regulatory compliance Automated bots assisted in compliance, thereby enabling the company to increase revenue and save precious human hours, freeing up staff for higher-level tasks. By Yashvendra Singh Jun 05, 2023 5 mins Digital Transformation Robotic Process Automation feature Expedia poised to take flight with generative AI CTO Rathi Murthy sees the online travel service’s vast troves of data and AI expertise fueling a two-pronged transformation strategy aimed at growing the company by bringing more of the travel industry online. By Paula Rooney Jun 02, 2023 7 mins Travel and Hospitality Industry Digital Transformation Artificial Intelligence Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe