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Check Point Offers To Acquire Protect Data For $588 Million
The acquisition would enhance Check Point's effort to move into the mobile data security arena.
W. David Gardner
November 20, 2006
1 Min Read
Internet security provider Check Point Software Technologies reported Monday that it offered $588 million in cash for Protect Data AB in an acquisition that would enhance Check Point's effort to move into the mobile data security arena.
The offer has the support of Protect Data's directors and its largest stockholder, Monterro Holding, according to Check Point.
Check Point, based in Israel, offers a range of enterprise-oriented firewalls, VPNs, and other security features. Sweden-based Protect Data provides data security for desktops and mobile devices such as smartphones, PDAs, and laptops equipped with wireless functionality.
"With businesses facing increasingly severe consequences from data breaches and a stricter regulatory environment, it is apparent that protection must extend beyond the infrastructure to the data itself," said Check Point's CEO Gil Shwed in a statement.
Check Point noted that Protect Data's revenue grew 92% in the first nine months of the year to $52 million. Income for the period grew 166% to $8.3 million.
Check Point delivers a unified security architecture through its NGX platform. The company said the acquisition would enable it to add a new layer of data security to its existing products. The purchase of Protect Data's Pointsec is the first step in Check Point's effort to secure all enterprise data, according to Check Point.
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