Check Point secures US$586m protection
Check Point Software Technologies, one of the world’s largest internet security companies, is buying Swedish data security firm Protect Data for US$586million, it said last week.
Protect Data is the owner of Pointsec Mobile Technologies, which provides security for mobile devices. Check Point said that acquiring Pointsec was the first step in its “vision” of securing all enterprise data.
“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 Showed, CEO of 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 provides data encry- ption solutions for desktop PCs, laptops, PDAs and smartphones. The expansion of network access to mobile workers is driving demand to secure all devices that connect to the corporate network, Check Point said.
Pointsec customers in the Middle East include National Bank of Abu Dhabi (NBAD), which has deployed encryption technology on employees’ laptops, and the Zahid Group, the regional distributor for Caterpillar, Ingersoll-Rand, Volvo Trucks and Cars, Demag cranes, Lorain Cranes and Hummer. The Zahid Group has deployed Pointsec technology for PC and mobile platforms, USBs and other removable media devices.
While the deal is subject to shareholder approval, Protect Data’s board of directors have unanimously recommended the offer, and it is also supported by Protect Data’s largest shareholder, Monterro Holding, which owns just over 10% of the firm.
“After an evaluation process of the strategic alternatives for the company, both our board of directors and I believe this opportunity represents the best strategy for Protect Data, its customers, shareholders and employees,” claimed Martin Bjäringer, chairman of the board, Protect Data AB.
“By combining with Check Point, which is a leading international IT security player, Protect Data will get access to a larger network of distributors and partners, which will facilitate an even stronger international growth than today’s strong organic growth,” said Peter Larsson, CEO of Protect Data. “This will enable Protect Data and Check Point to better exploit the market potential of Protect Data’s market leading product suite within mobile data protection.”