Radware wins multi-million dollar cyber contract

Roy Zisapel

Radware's share has dropped 8.3% this year, but climbed 3.3% on Thursday and Friday.

After falling in recent weeks, the Radware Ltd.'s (Nasdaq:RDWR) share price changed direction last week, climbing 3.3% to $16.50 on Wall Street on Thursday and Friday, reflecting a $743 million market cap. The Radware share has lost 8.3% of its value since the beginning of the year.

Managed by CEO and president Roy Zisapel, Radware specializes in routing Internet traffic loads. The company reported on Thursday that a new contract amounting to "many millions of dollars" had been signed with a US financial services company. Under the contract, Radware will provide solutions for cyber attacks, and its solution will spot and prevent the attacks in real time without human intervention, and without disturbing ordinary traffic.

"Financial entities are in the forefront of the cyber attacks, and high quality identification and reduction of such attacks in real time is critical," said VP Security Solutions Carl Herberger. He added that assimilating Radware's DefensePro solution in the customer's data centers would help secure the client's network and information security.

Radware is part of the Zisapel brothers' Rad Group. The company is scheduled to publish its third quarter financial statements on October 28, and analysts covering the company expect it to post $54.7 million in revenue and a $0.19 net profit per share.

Published by Globes [online], Israel business news - www.globes-online.com - on October 19, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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