Check Point Bids For Mobile Security Firm Protect Data

| About: Check Point (CHKP)

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Check Point Bids $586 Million for Protect Data [Reuters]

chkpSummary: Leading software firewall vendor Check Point Software bid approximately $586 million cash for Stockholm-based Protect Data in an effort to bulk up its mobile data offerings and move beyond its core VPN and business server markets. Expansion of network access to mobile workers has necessitated security solutions such as Protect's, which booked revenue of 370.8 million Swedish crown ($52.3 million) for the first nine months of 2006. Israel-based Check Point expects Protect Data to contribute approximately $90 million to its 2007 revenue. The enterprise security sector has been marked by consolidation recently, with IBM and EMC also making large acquisitions.
Related links: Media coverage: Globes (Israel) , Red Herring . Commentary: Did Checkpoint Pay Too Much for Protect Data? , Richard Stiennon at ZDNet , Checkpoint's Investor Confidence Is Weakening . Conference call transcripts: Check Point Software Q3 2006 .
Potentially impacted stocks and ETFs: Check Point Software (NASDAQ:CHKP)

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