Check Point Software to Acquire CyberInt, Enhancing Security Operations Capabilities

Check Point to acquire Cyberint to boost SOC capabilities By Investing.com

REDWOOD CITY, Calif. - Check Point Software Technologies Ltd. (NASDAQ: NASDAQ:CHKP), a prominent cybersecurity platform provider, has announced a definitive agreement to acquire Cyberint Technologies Ltd., a leader in External Risk Management solutions. The acquisition is poised to significantly enhance Check Point's Security Operations Center (SOC) capabilities and broaden its managed threat intelligence services. Cyberint, established in 2010 and employing over 170 people globally, is recognized for its rapid growth in the cybersecurity market. The company was awarded 'Company of the Year' in 2023 by Frost & Sullivan in the External Risk Mitigation & Management category. Specializing in threat intelligence, digital risk protection, and attack surface management, Cyberint serves a diverse clientele, including Fortune 500 companies. The integration of Cyberint's advanced capabilities into the Check Point Infinity Platform is expected to offer collaborative threat prevention and will be available as a managed service through Check Point Infinity Platform Services. Cyberint's technology focuses on real-time intelligence and proactive defense strategies to combat prevalent threats such as stolen employee credentials, fake websites, and social media impersonation. Yochai Corem, CEO at Cyberint, expressed enthusiasm for the acquisition, emphasizing that the integration with Check Point will enhance their ability to protect organizations against both internal and external threats. Sharon Schusheim, Chief Services Officer at Check Point, also highlighted the alignment of Cyberint's solutions with Check Point's vision of collaborative threat prevention and the enhancement of SOC capabilities. Cyberint's key capabilities include the detection and takedown of impersonating websites and social media accounts, stolen credentials, and leaked data associated with organizations. The company's AI-powered technology delivers actionable intelligence within 20 minutes after setup, enabling prompt responses to threats with minimal false positives. Cyberint's managed services also offer expert guidance for comprehensive risk management. The transaction's closing is contingent on customary conditions and is expected to be finalized by the end of 2024. Check Point Software Technologies Ltd., with over 100,000 organizations worldwide under its protection, aims to leverage AI across its Infinity Platform to enhance cybersecurity efficiency and accuracy. This strategic acquisition is based on a press release statement and reflects Check Point's commitment to advancing its cybersecurity offerings in an increasingly digital and threat-prone business environment. In other recent news, Checkpoint Software has been making headlines with its strong financial results and significant billings growth. BMO Capital Markets, Baird, and Mizuho have all raised their price targets for Checkpoint Software, reflecting the company's robust performance. The company's second-quarter results showcased strong billings growth and a slight year-over-year increase in product growth. Nadav Zafrir, a cyber-veteran, has been appointed as the new CEO, expected to contribute significantly to the company's future. Checkpoint Software also expanded its share repurchase program by an additional $2 billion. The company's management has forecasted revenues between $615 million and $650 million for the second half of the year. Analysts are closely watching for key metrics in the upcoming earnings report, such as billings of $596.7 million, total revenue of $623.5 million, and product revenue of $113.6 million. Scotiabank and Deutsche Bank (ETR:DBKGn) have also revised their targets for Checkpoint Software to $200 and $185 respectively. Checkpoint Software has also highlighted its focus on AI technology and its Infinity platform, which reported double-digit growth in product and subscription revenues. These are the recent developments for Checkpoint Software. As Check Point Software Technologies Ltd. (NASDAQ: CHKP) sets its sights on enhancing its Security Operations Center (SOC) capabilities through the acquisition of Cyberint Technologies Ltd., investors and industry observers are closely monitoring Check Point's financial health and market position. According to InvestingPro data, Check Point boasts a robust market capitalization of $21.4 billion, signaling strong investor confidence in its market presence and future growth potential. With a high gross profit margin of 88.85% over the last twelve months as of Q2 2024, Check Point demonstrates exceptional efficiency in its operations, reinforcing its ability to integrate and capitalize on Cyberint's advanced threat intelligence technologies. Additionally, Check Point's impressive return on assets of 15.09% during the same period indicates its ability to generate profits from its asset base, a positive sign for the company's operational effectiveness post-acquisition. InvestingPro Tips highlight Check Point's aggressive share buyback strategy and its significant cash reserves compared to debt, which may provide the financial flexibility required for strategic initiatives like the Cyberint acquisition. Furthermore, Check Point's stock has been trading near its 52-week high, with a price percentage of 98.7%, reflecting strong market sentiment. For investors seeking more in-depth analysis, there are 12 additional InvestingPro Tips available, offering further insights into Check Point's financial metrics and market performance. As Check Point continues to navigate the competitive cybersecurity landscape, the financial indicators and InvestingPro Tips suggest a company that is strategically positioned to leverage its strengths and enhance its service offerings through targeted acquisitions.

Check Point Software to Acquire Cyberint to Transform Security Operations and Expand Managed Threat Intelligence Solutions - Check Point Software (NASDAQ:CHKP)

REDWOOD CITY, Calif., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. CHKP, a leading cyber security platform provider, signs a definitive agreement to acquire Cyberint Technologies Ltd., a pioneering provider of External Risk Management solutions. This will significantly enhance Check Point's Security Operations Center (SOC) capabilities and expand its managed threat intelligence offerings. Cyberint's advanced capabilities will be integrated into the Check Point Infinity Platform for collaborative threat prevention and will also be available as a managed service through Check Point Infinity Platform Services. Founded in 2010, with over 170 employees worldwide, Cyberint is one of the fastest growing External Risk Management companies in the market. Recognized as 'Company of the Year' in 2023 by Frost & Sullivan in the External Risk Mitigation & Management category. Organizations face critical security challenges every day, including stolen employee credentials, fake websites, and social media impersonation. To prevent these and other challenges from negatively impacting companies, Cyberint specializes in threat intelligence, digital risk protection, and attack surface management, serving a diverse global clientele, including Fortune 500 companies. "Leaked credentials and fake websites designed for malicious purposes are staggeringly prevalent today, with over 90% of organizations facing these threats. This highlights the urgent need for real-time intelligence and proactive defense strategies, which our technology is able to mitigate in an effective way," said Yochai Corem, CEO at Cyberint. "We are thrilled to join the Check Point team. Integrating our solutions into the Infinity Platform will enhance our ability to protect organizations. Together, we will offer a more comprehensive security SOC offering that covers both internal and external threats." "We are excited to welcome Cyberint to the Check Point organization. Their solution aligns perfectly with our vision of collaborative threat prevention and enhances our SOC capabilities," stated Sharon Schusheim, Chief Services Officer at Check Point Software Technologies. "We will be able to turn identified risks into autonomous preventative actions and work collaboratively across Check Point and third-party security products to contain compromised assets and mitigate external exposures." Cyberint's key capabilities include: A Comprehensive External Risk Management Solution for SecOps Teams: Cyberint's solution offers detection and takedown of impersonating website and social media accounts, as well as stolen credentials and leaked data associated with organizations. It also enables companies to detect vulnerable internet-facing websites and applications and prioritize and effectively mitigate these vulnerabilities.Differentiated by Delivering Impactful and Actionable Intelligence: Cyberint delivers actionable intelligence within 20 minutes after setup, ensuring that security teams can respond to threats promptly.Powered by AI and Enhanced by High-Quality Managed Services: Cyberint uses AI to deliver effective risk detection, mitigation, and contextualized alerts with minimal false positives. Managed services further strengthen this approach, offering expert guidance and ensuring comprehensive, high-quality management. Closing of the transaction is subject to customary closing conditions and is expected to occur by the end of 2024. For more information about Check Point Infinity Platform Services, visit: https://www.checkpoint.com/services/infinity-global/ Follow Check Point Software via: LinkedIn: https://www.linkedin.com/company/check-point-software-technologies X (Formerly known as Twitter): https://www.twitter.com/checkpointsw Blog: https://blog.checkpoint.com YouTube: https://www.youtube.com/user/CPGlobal About Check Point Software Technologies Ltd. Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organizations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Platform Services for collaborative security operations and services. About Cyberint Cyberint, the Impactful Intelligence company, reduces risk by helping organizations detect and mitigate external cyber threats before they have an adverse impact. The Cyberint Argos platform's technology provides superior visibility through continuous discovery of the evolving attack surface, combined with vast quantities of intelligence from across the open, deep, and dark web. A team of global military-grade cybersecurity experts work alongside customers to rapidly detect, investigate, and disrupt relevant threats - before they have the chance to develop into major incidents. Global customers, including Fortune 500 leaders across all major market verticals, rely on Cyberint to protect themselves from an array of external risks, including vulnerabilities, misconfigurations, phishing, impersonation attacks, malware infections, exposed credentials, data leaks, fraud, and 3rd party risks. Legal Notice Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to our expectations regarding our products and solutions and Cyberint's products and solutions, our expectations related to our ability to enhance its Security Operations Center (SOC) capabilities and expand its managed threat intelligence solutions, and the expected results of and expected timeline for the consummation of the acquisition. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. These risks include the failure to realize the anticipated benefits of the acquisition; the ability to satisfy the conditions to the completion of the acquisition on the anticipated schedule, or at all; our ability to continue to develop platform capabilities and solutions; our ability to successfully integrate the business of Cyberint's; the market for IT security continuing to develop; competition from other products and services; and general market, political, economic, and business conditions, including acts of terrorism or war. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 2, 2024. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law. MEDIA CONTACT: Gil Messing Check Point Software Technologies [email protected] INVESTOR CONTACT: Kip E. Meintzer Check Point Software Technologies [email protected] Market News and Data brought to you by Benzinga APIs