Checkpoint moving into data security market with bid to acquire Pointsec
Checkpoint Software Technologies Ltd, Israeli vendor of popular firewall and VPN solutions yesterday made cash bid to acquire Sweden’s Protect Data AB, the parent company of Pointsec Mobile Technology for $568 million.
This move puts in motion part of Checkpoint’s strategy which is to extend their product offerings to include data storage. Pointsec’s revenue grew 92% in the first nine months of this year to $52.4 million with $8.3 million profit after tax. Pointsec have spent a lot of money on their mobile security solutions for which they are currently the market leader. This move sees further consolidation in the security solutions market. I think the move for Checkpoint is not a bad one as they have essentially bought the leading market share the fast growing mobile device encryption market.
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