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Check Point shares stretch slump

The stock continues to react to a media report it is in initial talks to by CyberArk.
Check Point shares stretch slump
If a deal is completed, it would be Check Point's largest acquisition to date.

Check Point Software Technologies (NASDAQ:CHKP) extended its slump on Thursday, on the heels of a media report suggesting the Israeli cyber security firm is in initial talks to buy smaller provider CyberArk Software (NASDAQ:CYBR).

Shares of the Tel Aviv-Yafo, Israel-based company fell 1.2% to $76.01 at 9:54 a.m. in New York.

The report was published by TheMarker financial newspaper on Wednesday.

If a deal is completed, it would be Check Point's largest acquisition to date.

Last year it purchased two small Israeli companies - cyber security start-up Hyperwise and Lacoon Mobile Security to help prevent cyber attacks on mobile phones.

Check Point, with a market cap of $13.8bn, had $3.6bn in cash as of the third quarter of 2015.

It is one of the world's largest cyber security firms and pioneered the computer firewall two decades ago.

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Check Point Software Technologies Timeline

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