Israeli Industry Conference
Check Point CEO Downplays Mellanox Acquisition
Selling a company can be a sign that management has grown tired and wishes to hand over the reins, Gil Shwed, CEO of the firewall pioneer, said Tuesday
18:0526.03.19
Selling a company can be a sign that management has grown tired and wishes to hand over the reins, Gil Shwed, co-founder and CEO of Nasdaq-listed network and cloud security company Check Point Software Technologies Ltd., said, commenting on Nvidia’s recent $6.9 billion acquisition of Israel-based chipmaker Mellanox Technologies Ltd.
Shwed spoke at Calcalist’s annual Israeli Industry Conference held Tuesday in Tel Aviv.
Check Point co-founder and CEO Gil Shwed. Photo: Amit Sha'al
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Mellanox’s acquisition, Nvidia’s largest to date, came after a long feud with activist investor Starboard Value LP, settled in June.
Check Point co-founder and CEO Gil Shwed. Photo: Amit Sha'al
Check Point is not for sale, Shwed said, adding that there aren’t many companies capable of buying the information security firm currently trading at a $19.67 billion market capitalization. To keep things at Check Point fresh he constantly changes management strategies and delegates authorities, Shwed added.
Check Point revenues totaled $1.9 billion in 2018, up 3% year-over-year, according to company earnings published January. GAAP earnings per share stood at $5.15, a 7% increase from 2017.