Check Point Software Technologies to Acquire Sourcefire
Thursday October 6, 7:04 am ET
Next Generation Intrusion Prevention Solutions to Extend Unified Security Architecture
REDWOOD CITY, Calif. & COLUMBIA, Md.--(BUSINESS WIRE)--Oct. 6, 2005--Check Point® Software Technologies Ltd. (Nasdaq:CHKP - News), the worldwide leader in securing the Internet, and Sourcefire®, Inc., creator of Snort® and a leading provider of intrusion prevention and real-time network awareness solutions, today announced that they have signed a definitive agreement for Check Point to acquire privately held Sourcefire for a total consideration of approximately $225 million. The transaction consideration includes cash and assumption of the Sourcefire stock option plan. The agreement has been approved by the boards of directors of both companies and the stockholders of Sourcefire. The acquisition is subject to closing conditions including the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") and Exxon-Florio Act of 1988 and is expected to close by Q106 shortly after receiving regulatory approvals.
One of the fastest growing companies in the industry, Sourcefire, with its award-winning solutions for securing mission-critical enterprise networks, is expected to further strengthen Check Point's perimeter, internal, Web and endpoint security portfolio and to expand its opportunity to take advantage of the fast-growing Intrusion Prevention and Network Awareness Internet security segments. Additionally, Check Point will gain access to the talent of Sourcefire employees, and strengthen its relationship with Sourcefire enterprise customers and the Snort community with tens of thousand of users worldwide.
"We believe Sourcefire has world-class solutions for internal security through their Intrusion Sensor, Real-time Network Awareness (RNA), and Defense Center product lines. These align perfectly with Check Point's vision for internal security and are ideal complements to our InterSpect(TM) and Integrity(TM) solutions," said Gil Shwed, chairman and CEO of Check Point Software Technologies. "Both companies share a deep commitment to customers, and this acquisition will enable us to deliver the industry's most comprehensive end-to-end Internet security to all types of customers -- from consumers to the largest enterprises."
An Internet security pioneer and leader, Check Point delivers the industry's most intelligent security solutions. Through its NGX(TM) platform, it is the only company to deliver a unified security architecture across a broad range of perimeter, internal, Web and endpoint security solutions, enabling enterprises of all sizes to reduce the cost and complexity of security management and ensure their security systems can be easily extended to adapt to new and evolving threats. These solutions protect 100 of the Fortune 100 companies, and are installed at hundreds of thousands of sites worldwide.
"Our shared passion for excellence and Check Point's commitment to Sourcefire's products, partners, customers and the Snort community were paramount in making this decision," said Wayne Jackson, CEO of Sourcefire. "With our common vision for integrating network intelligence with network security, Check Point's substantial industry, channel, and financial strengths will allow us to accelerate our pace of innovation while reaching a global market of enthusiastic partners and customers."
Sourcefire has received significant company and technology recognition throughout 2005. Most recently, Sourcefire was declared the best Intrusion Prevention solution among twelve vendors evaluated by Secure Computing Magazine. Earlier this year Sourcefire was named Frost and Sullivan's "Security Company of the Year" and the Most Innovative Company at the 2005 RSA Conference. In April, Sourcefire's Real-time Network Awareness (RNA) solution became only the fifth product in history to receive "NSS Gold" for its unique ability to solve customers' complex security awareness issues.
"Over the past two years Check Point expanded its strategy from primarily offering perimeter gateway security solutions to provide a fully integrated architecture for perimeter, internal, Web and endpoint security," Mr. Shwed continued. "This architecture enables our customers to take a proactive approach to security, prevent known and unknown threats and utilize security as a critical layer in today's networked business environment. The acquisition of Sourcefire is an important step in delivering this expanded strategy by enhancing our set of attack prevention intelligent technologies and providing the most comprehensive internal security solutions portfolio."
Investor Conference Calls and Webcast Information
In a separate release today, Check Point announced that it will release its financial results for the third quarter of 2005 on October 28th and provided a preview of the results. Today, the company will conduct a conference call with investors to discuss the Sourcefire acquisition. A conference call will be held before the market opens on October 28th 2005 to discuss the results of the third quarter.
Today's conference call with investors to discuss the acquisition of Sourcefire will take place at 9:00AM ET/6:00 AM PT (October 6th). Please dial 973-935-8512 and reference confirmation code 6579459 to access the live call or visit the company's website at www.checkpoint.com/ir for the live webcast. A replay of the conference call will be available through October 27, 2005 at the company's website or by telephone at 973-341-3080, confirmation code 6579459.
About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leader in securing the Internet. It is a market leader in the worldwide enterprise firewall, personal firewall and VPN markets. Through its NGX platform, the company delivers a unified security architecture for a broad range of perimeter, internal, Web, and endpoint security solutions that protect business communications and resources for corporate networks and applications, remote employees, branch offices and partner extranets. The company's ZoneAlarm product line is the highest rated personal computer security suite, comprised of award-winning endpoint security solutions that protect millions of PCs from hackers, spyware and data theft. Extending the power of the Check Point solution is its Open Platform for Security (OPSEC), the industry's framework and alliance for integration and interoperability with "best-of-breed" solutions from over 350 leading companies. Check Point solutions are sold, integrated and serviced by a network of more than 2,200 Check Point partners in 88 countries and its customers include 100% of Fortune 100 companies and tens of thousands of businesses and organizations of all sizes. http://biz.yahoo.com/bw/051006/65377.html?.v=1