Check Point Software Provides Update on Sourcefire Acquisition
Redwood City, CA —
Check Point® Software Technologies Ltd. (NASDAQ: CHKP), the world leader in securing the Internet, received notice its pending acquisition of Sourcefire®, Inc. has moved into the investigative stage with the Committee on Foreign Investment in the United States ("CFIUS").
In order to clear the transaction with the United States Government, Check Point submitted two regulatory applications. Check Point received U.S. anti-trust approval and was advised that CFIUS would continue reviewing the application during a 45-day investigative period.
CFIUS, an inter-agency committee, is chaired by the Secretary of Treasury. Pursuant to the Exon-Florio legislation, CFIUS reviews proposed foreign acquisitions of U.S. companies in order to protect national security while maintaining the credibility of the United States open investment policy. The Exon-Florio legislation provides for a 30-day review following notification of a potential acquisition. CFIUS has the option to extend the review period for an additional 45-day review (or "investigation").
Check Point and Sourcefire are both committed to working cooperatively with the committee during the investigative period.
Safe Harbor Statement
Certain statements in this press release are forward-looking statements. Forward-looking statements include statements regarding Check Point's expectations regarding the timing of receipt of any regulatory approvals and completion of the acquisition. These statements pertain to future events, and therefore they are subject to various risks and uncertainties, and actual results could differ materially from Check Point's current expectations and beliefs. Factors that could cause or contribute to such differences include, but are not limited to: the parties' ability to consummate the Sourcefire transaction, including the ability of the parties to secure the CFIUS approval required for the transaction on the terms expected or on the anticipated schedule, if at all; and other factors and risks discussed in Check Point's Annual Report on Form 20-F for the year ended December 31, 2004, which is on file with the Securities and Exchange Commission. Check Point assumes no obligation to update information concerning its expectations.
About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leader in securing the Internet. It is a market leader in the worldwide enterprise firewall, personal firewall and VPN markets. Through its NGX platform, the company delivers a unified security architecture for a broad range of perimeter, internal, Web, and endpoint security solutions that protect business communications and resources for corporate networks and applications, remote employees, branch offices and partner extranets. The company's ZoneAlarm product line is the highest rated personal computer security suite, comprised of award-winning endpoint security solutions that protect millions of PCs from hackers, spyware and data theft. Extending the power of the Check Point solution is its Open Platform for Security (OPSEC), the industry's framework and alliance for integration and interoperability with "best-of-breed" solutions from over 350 leading companies. Check Point solutions are sold, integrated and serviced by a network of more than 2,200 Check Point partners in 88 countries and its customers include 100% of Fortune 100 companies and tens of thousands of businesses and organizations of all sizes.