Check Point to Acquire Protect Data
Check Point Software Technologies Ltd., Internet security provider, has announced a cash tender offer to acquire Protect Data AB.
Provider of enterprise data security, Protect Data AB is a 100 % owner of Pointsec Mobile Technologies.
Since data security has become a critical element and is a priority for enterprises, Check Point aims to provide its customers the major security elements integrated into its unified security architecture.
“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 Gil Shwed, CEO, Check Point. “With Pointsec’s world-class solutions in data security, Check Point can provide customers with best-of- breed information security to complement our unified network security architecture.”
Pointsec delivers automatic data encryption solutions to provide protection. By securing sensitive information, it helps enterprises minimize risk, shield confidential data, guard information assets.
“Check Point’s substantial industry and channel leadership will allow Pointsec to accelerate its pace of innovation while reaching a global market of partners and customers,” said Peter Larsson, CEO, Protect Data.
Shwed continued, “This acquisition would be the first step in our strategy for expanding Check Point’s unified security architecture into data security. It would result in new market opportunities and provide additional security and value to our customers and partners.”
By incorporating data protection into its unified security architecture, Check Point offers customers ability to deploy, manage, and monitor both data and network security policies from a single framework, reducing cost, complexity and improving effectiveness. Its data security solutions offer to protect them from data loss, leakage, interception, and misdirection.
Check Point would integrate Pointsec’s solutions into the former’s unified security architecture. This will help ensure data security technologies to quickly adapt to changing threats, cooperate with other systems to enforce security policy, and enable central administrative control.
The expanded solution portfolio would be delivered through the Check Point worldwide distribution channel.
Until the transaction is closed, both companies will operate as two separate entities with separate sales channels. This transaction is subject to obtaining the support of more than 90 % of the shareholders of Protect Data and other terms. If these conditions are met, the two companies are expected to be combined in early 2007.
Board of Directors of ProtectData has unanimously recommended its shareholders to approve takeover offer from Check Point Software Technologies.
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