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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.

View full CHKP profile

Check Point Software Technologies Timeline

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