Check Point Acquires Dome9, Eyes Cloud Security Market Growth -

Check Point Software Technologies, an Israeli endpoint, network and mobile protection solutions company, has acquired cloud infrastructure security provider Dome9 for an undisclosed sum.

The Dome9 acquisition enables Check Point to add security policy enforcement and multi-cloud protection capabilities to its Infinity architecture and Cloud Security offering, according to a prepared statement.

Dome9 is a public cloud security company that offers Arc, an agentless software-as-a-service (SaaS) platform for multi-cloud deployments across Amazon Web Services (AWS), Google Cloud and Microsoft Azure.

Arc provides the following capabilities:

Advanced Identity and Access Management (IAM) Protection: Helps organizations protect against compromised credentials and identity theft.

Compliance Engine: Enables organizations to track, manage and report on compliance.

Network Security: Allows organizations to enforce network security policies across accounts, policies and regions.

In addition, Arc empowers organizations to visualize their security posture and identify and mitigate cyber risks and threats, Dome9 said. It also allows organizations to develop and maintain cloud security best practices.

What Does the Dome9 Acquisition Mean for Check Point Customers?

The Dome9 acquisition provides Check Point customers with security visibility and control across multi-cloud environments, the company stated. It may help Check Point capitalize on the rising demand for cloud security solutions, too.

Global cloud security market revenues are projected to increase at a compound annual growth rate (CAGR) of 13.9 percent between 2014 and 2024, according to industry analyst Grand View Research. Also, the global cloud security market could be worth approximately $12.6 billion by 2024.

How Did Check Point Perform in 3Q18?

Check Point enjoyed a profitable third quarter of 2018, which is reflected in the following results from the company's 3Q18 earnings report:

Total revenue of $471 million, up 4 percent year over year.

Generally accepted accounting principles (GAAP) net income of $198 million, compared to $193 million one year earlier.

GAAP earnings per diluted share of $1.25, an increase from $1.16 in 3Q17.

Check Point is "100 percent channel-driven," according to the company. It provides cybersecurity solutions to help organizations address malware, ransomware and other targeted attacks, and these solutions are used by more than 100,000 organizations worldwide.

Furthermore, Check Point offers the Stars Program for channel partners. The Stars Program provides channel partners with access to sales tools and training and allows them to add Check Point cybersecurity solutions to their portfolios.