Zone Labs is a privately held endpoint security solutions provider.
Internet security provider Check Point Software Technologies (Nasdaq:CHKP), and endpoint security solutions provider Zone Labs Inc., yesterday announced a definitive merger agreement. Check Point will acquire privately held Zone Labs for $205 million. Check Point will pay approximately $113 million in cash and approximately $92 million in shares, and will also assume employee stock options of Zone Labs, which could convert to approximately 2.9 million Check Point shares. The merger agreement has been approved by the boards of directors of both companies.
The transaction is subject to customary closing conditions, including Zone Labs shareholder approval and regulatory approvals, and is expected to close in the first quarter of 2004. After the close of the transaction, Zone Labs will operate as a division of Check Point.
"We believe Zone Labs has the very best endpoint security solutions for both consumers and enterprises through the ZoneAlarm and Integrity product lines. These complement Check Point's vision and our SecureClient VPN/security client solution," said Check Point chairman and CEO Gil Shwed.
Check Point will also take on 200 Zone Labs employees and gain acess to a customer base of over 25 million.
Published by Globes [online] - www.globes.co.il - on December 16, 2003