Checkpoint software CHKP recently partnered with cloud networking pioneer Alkira to offer its CloudGuard firewalls for the latter’s Cloud Network Infrastructure as a Service (CNaaS). The collaboration will simplify the implementation of enterprise-wide security controls in cloud, multicloud and on-premises environments.
With the latest partnership, Check Point Software’s firewall customers will be able to extend the same security functionality to on-premises or multi-cloud networks. Additionally, the service will allow businesses to avoid the complexity and costs of DIY solutions, while ensuring performance and scalability.
The increase in cybersecurity threats in businesses due to the current wave of digital transformation amid the coronavirus crisis is driving demand for Check Point’s cybersecurity solutions.
Additionally, the pandemic-induced home work environment has highlighted the need for robust cloud solutions for remote working. Check Point’s solutions, such as Mobile Access and Sandblast Agent, have gained traction among businesses to facilitate the smooth and secure remote operation of business operations.
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Additionally, the acquisitions have helped Check Point expand its portfolio, expand its capabilities and enter new markets, ultimately driving revenue growth.
Over the past two decades, the company has acquired 13 companies to accelerate its growth. Notables among them were Lacoon Mobile Security, Hyperwise, Liquid Machines, Dynasec Ltd. and the security appliance business of Nokia Corporation.
Most recently, in August of this year, it struck a deal to acquire Israeli provider of enterprise cloud email security solutions, Avanan, for an undisclosed amount. The buyout is likely to strengthen the company’s portfolio of cloud offerings and improve its end-to-end enterprise security solution capabilities.
Last September, Check Point acquired cybersecurity start-up Odo Security, which specializes in Zero Trust Network Access software. Odo solutions help business personnel gain secure remote access to any application.
In December 2019, it acquired the Internet of Things (IoT) start-up, Cymplify, with the aim of reducing the exposure to IoT-related cyber risks of client companies. The takeover expanded the company’s capabilities to provide protection to IoT devices, including IP cameras, smart TVs, elevator controllers and medical devices, against sophisticated zero-day attacks.
That same year, in January, it purchased ForceNock Security Ltd for an undisclosed amount. ForceNock uses an easily deployable, machine-learning-based security engine for the protection of Web applications and Application Program Interface (API), to eliminate the need for security teams to manage various complex configurations while maximizing the security.
Zacks rank and choice of keys
Check Point currently carries a Zacks Rank # 3 (Hold).
Top ranked stocks in the broader tech sector include Microsoft MSFT, STMicroelectronics SA STM, and NVIDIA Corporation NVDA, all carrying a Zacks Rank of 2 (Buy), at present. You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.
The long-term profit growth rate for Microsoft, STMicroelectronics and NVIDIA is currently set at 11.1%, 5% and 19.5%, respectively.
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