Check Point CEO Gil Shwed
צילום: אלי שמעוני
Check Point to acquire Swedish Protect Data AB
Israeli security software giant to acquire Swedish data security company for USD 586 mil, acquisition will allow Check Point to expand date security services to cellular devices
Israeli software giant Check Point is in advanced talks for the acquisition of the Swedish Protect Data AB company, Check Point is offering to buy out the company's shares in cash for USD 586 mil, its current value on the Stockholm exchange.
Protect Date specializes in information security for cellular devices through daughter company Pointsec. The acquisition will allow Check Point, which operates primarily in the online market, to expand their service base for businesses. New York based investment bank Lehman Brothers aided Check Point in the deal.
If the deal comes through it will be the second major acquisition by Check Point after the company signed a deal to purchase American information security company Sourcefire for USD 225 mil in 2005. But the Sourcefire deal never happened - Check Point agreed to back out of the agreement after the US administration objected to the deal for security reasons. Sourcefire provides security software for US military and intelligence computer systems.
In early 2004 Check Point completed its first acquisition ever, buying out ZoneLabs for USD 225 mil.
Check Point is traded on NASDAQ and is valued at USD 5.1 billion. Company profits for the third quarter of 2006 stood at USD 142.5 mil, with a GAAP of USD 71.1 mil.
