Expect Acquisitions to Increase

“Expect acquisitions to increase”: Check Point CEO signals expansion after strong quarter

CEO Nadav

Zafrir points to renewed growth momentum as billings surge 20% and company accelerates AI hiring worldwide.

Cybersecurity company Check Point ended the third quarter of the year with a positive surprise in new orders (billings), which rose 20% compared with the same period last year.

The rebound follows weakness in billings in the previous quarter and signals growing marketing momentum and stronger expectations for future revenue growth.

“We finished the third quarter with double-digit growth in billings. One month into the fourth quarter, we are very confident in our direction,” said CEO Nadav Zafrir. “I’ve been here for more than ten months and can see the vision and strategy being realized.”

“Making additional acquisitions depends very much on the opportunities we see,” said Zafrir. “What limits us is not our ability to execute but the quality of the opportunities. We should expect acquisitions to increase.”

The main highlight of the quarter was Check Point’s acquisition of Swiss-based Lakera, reportedly for around $300 million, aimed at strengthening its defenses for organizations adopting AI.

Excerpted from https://www.calcalistech.com/ctechnews/article/byyttqa0xl