20 November 2006

Check Point makes move into data security

Firewall pioneer Check Point has announced a €457m bid to buy Pointsec Mobile Technologies, a data-level security supplier, based in Sweden.

Check Point has made a cash tender offer to acquire Protect Data, the 100% owner of Pointsec for SEK 180 per share with a total transaction value of approximately SEK 4,152 million or approximately €457m.

The proposed acquisition of Pointsec, a provider of data security on laptop and desktop PCs, PDAs and smartphones, will add a data security element to Check Point’s business.

"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, chief executive officer of Check Point, in a statement.

Shwed continued, “This acquisition is the first step in our strategy for expanding Check Point's unified security architecture into data security.”

Following approval and registration with the Swedish Financial Supervisory Authority, the offer document is expected to be posted on November 24, 2006 on: www.checkpoint.com and www.seb.se/prospekt. The acceptance period is expected to run from 27 November to 22 December 22, 2006.

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