TEL AVIV (Reuters) – Israel-based cyber security provider Check Point Software Technologies CHKP.O said on Wednesday it is acquiring Odo Security, a developer of secure remote access technology.
Financial details of the deal, which is expected to close within a week, were not disclosed.
A market source estimated the deal was worth $30 million.
This technology will integrate with Check Point’s Infinity threat prevention architecture.
The COVID-19 pandemic has driven enterprise adoption of mass remote working for their workforces, from 30% before the pandemic to 81% today, Check Point said, adding that 74% plan to enable large-scale remote working permanently.
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“Many organizations find themselves compromising security in order to deliver the connectivity required by their business needs,” said Dorit Dor, Check Point’s vice president of products.
Odo Security, an Israeli start-up with 17 employees, developed a cloud-based, secure access service edge technology.
Reporting by Tova Cohen; Editing by Steven Scheer
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