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Check Point (CHKP), Alkira Partner to Offer Cloud Network Security

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Check Point Software (CHKP - Free Report) recently partnered with cloud networking pioneer, Alkira, to offer its CloudGuard firewalls for the latter’s Cloud Network infrastructure as-a-Service (CNaaS). The collaboration will simplify the implementation of enterprise-wide security controls across the cloud, multi-cloud and on-premises environments.

With the latest partnership, Check Point Software’s firewall customers will be able to extend the same security functionality to the on-premises or multi-cloud networks. Moreover, the service will enable enterprises to avoid complexity and the costs of do-it-yourself solutions, while providing guaranteed performance and scalability.

The heightening cybersecurity threats across enterprises due to the ongoing wave of digital transformation amid the coronavirus crisis are spurring demand for Check Point’s cybersecurity solutions.

Further, the pandemic-induced work-from-home environment has highlighted the need for robust remote-working cloud solutions. Check Point’s solutions, such as Mobile Access and Sandblast Agent, have gained significant momentum among enterprises to facilitate the smooth and secure running of business operations remotely.

Additionally, acquisitions have helped Check Point broaden its portfolio, capabilities and enter into newer markets, eventually driving revenue growth.

In the last two decades, the company has acquired 13 businesses to expedite growth. The notables among them were Lacoon Mobile Security, Hyperwise, Liquid Machines, Dynasec Ltd., and the security appliance business of Nokia Corporation.

Most recently, in August this year, it entered into an agreement to acquire the Israel-based enterprise cloud email security solutions provider, Avanan, for an undisclosed amount.  The buyout is likely to strengthen the company’s cloud offering portfolio and enhance its end-to-end enterprise security solution capabilities.

Last September, Check Point acquired cybersecurity start-up, Odo Security, which is specialized in Zero Trust Network Access software. Odo solutions help enterprises’ workforce have a secure remote access to any application.

In December 2019, it bought the Internet of Things (IoT) start-up, Cymplify, in a bid to reduce the enterprise customers’ IoT cyber risk exposure. The buyout has expanded the company’s capabilities in providing protection to IoT devices, including IP cameras, smart TVs, elevator controllers and medical devices, against sophisticated zero-day attacks.

Same year, in January, it purchased ForceNock Security Ltd for an undisclosed amount. ForceNock uses machine learning-based, easily deployable security engine for Web Application and API (Application Program Interface) Protection, to eliminate the need of security teams for managing various complicated configurations while maximizing security.

Zacks Rank & Key Picks

Check Point currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the broader technology sector include Microsoft (MSFT - Free Report) , STMicroelectronics N.V.  (STM - Free Report) , and NVIDIA Corporation (NVDA - Free Report) , all carrying a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term earnings growth rate for Microsoft, STMicroelectronics, and NVIDIA is currently pegged at 11.1%, 5%, and 19.5%, respectively.