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Check Point Software

“Market Cap $13.11 B As of May 2014

At a Glance
  • Industry: Software & Programming
  • Founded: 1993
  • Country: Israel
  • CEO: Gil Shwed
  • Website: www.checkpoint.com
  • Employees: 2,990
  • Sales: $1.39 B
  • Headquarters: Tel Aviv
Forbes Lists

#1353 Global 2000

  • #920 in Profit
  • #857 in Market value
Profile

Check Point Software Technologies Ltd. is engaged in developing, marketing, and supporting software solutions for information technology security. It offers combined hardware and software products and subscriptions by offering network security, data security, and management solutions for enterprise networks and services. It operates through a single segment, which involves the sale of network and data security products including licenses, related software updates, maintenance, and subscriptions. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.

Check Point Software History

Check Point was established in Ramat-Gan, Israel in 1993, by Gil Shwed (Chairman and CEO as of 2013), Marius Nacht (Vice Chairman as of 2013) and Shlomo Kramer (who left Check Point in 2003). Shwed had the initial idea for the company’s core technology known as stateful inspection, which became the foundation for the company’s first product, FireWall-1; soon afterwards they also developed one of the world’s first VPN products, VPN-1. Shwed developed the idea while serving in the Unit 8200 of theIsrael Defense Forces, where he worked on securing classified networks.

Initial funding of US$400,000 was provided by venture capital fund BRM Group.

In 1994 Check Point signed an OEM agreement with Sun Microsystems, followed by a distribution agreement with HP in 1995. The same year, the U.S. head office was established in Redwood City, California.

By February 1996 the company was named worldwide firewall market leader by IDC, with a market share of 40 percent. In June 1996 Check Point raised $67 million from its initial public offering on NASDAQ.

In 1998 Check Point established a partnership with Nokia, which bundled Check Point’s Software with Nokia’s computer Network Security Appliances.

In 2003, a class action lawsuit was filed against Check Point over violation of the Securities Exchange Act by failing to disclose major financial information.

During the first decade of the 21st century Check Point started acquiring other IT security companies, acquiring Nokia’s network security business unit in 2009.”

*Information from Forbes.com and Wikipedia.org

**Video published on YouTube by “Check Point Software Technologies, Ltd.