Check Point Software Technologies acquiring Protect Data AB

Check Point Software Technologies is one of the world’s largest Internet security companies and they have just announced their decision to acquire data security company Protect Data AB.

The deal is worth around $586 million and it values Stockholm-based Protect Data at 180 Swedish crowns per share.

In fact, Protect Data’s board of directors has unanimously recommended this offer and is also being supported by Protect Data’s largest shareholder, Monterro Holding Ltd.

Gil Shwed, chief executive officer of Check Point spoke about this new development: “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.”

Martin Bjaringer, chairman of Protect Data’s board added: “After an evaluation process of the strategic alternatives for the company, both our board of directors and I believe this opportunity represents the best strategy for Protect Data, its customers, shareholders and employees.”