Israel’s Check Point Software aims to go it alone as cyber security sales rise

JERUSALEM: The CEO of Check Point Software Technologies said the Israeli company was not looking to be bought out like some local rivals, as it reported a second-quarter profit boosted by higher sales of products to protect and prevent corporate networks from cyber threats.

Nadav Zafrir on Wednesday said the network security company, which is valued at $24 billion and whose Nasdaq-listed shares are up 17% so far this year, would prefer to use its $3 billion cash pile on its own acquisitions. A day earlier the Wall Street Journal reported that Palo Alto Networks was in talks to acquire Israeli rival CyberArk Software in a deal that could be worth more than $20 billion, while Google is buying Wiz for $32 billion