April 2, 2015 / 12:06 PM / in 4 years

Check Point to buy Israel's Lacoon Mobile Security

TEL AVIV (Reuters) - Internet and network security provider Check Point Software Technologies will buy Israel-based Lacoon Mobile Security for tens of millions of dollars, it said on Thursday.

Lacoon’s product, which helps to prevent cyber attacks on mobile phones and is used by customers including Samsung, Intel and Dell, will be integrated into Check Point’s own mobile security solution, Capsule.

Check Point Chief Executive Gil Shwed did not disclose the price but said in a news conference that the deal was in the tens of millions of dollars and will boost his company’s offering in what it expects to become an increasingly important part of the market.

“Companies are not necessarily protecting the data on mobile devices properly,” Shwed said in a statement, adding that Check Point’s product will be targeted at enterprises. “We found that Lacoon had the best and most advanced solution to prevent threats.”

Shwed said Lacoon, which was founded in 2011 and employs 40 people, can support up to 300,000 mobile devices.

“This is our second acquisition in Israel this year and is part of our effort to boost the level of innovation in threat prevention,” he said at Thursday’s news conference.

Israel-based Check Point bought Israeli cyber-security start-up Hyperwise in February and plans to hire 600 workers in Israel this year as it looks to boosting its research and development operations.

Israeli newspaper Calcalist reported last month that Check Point was in talks to buy Lacoon for $80 million.

Reporting by Tova Cohen; Editing by David Evans and David Goodman

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