Allot Communications (ALLT) Reports Acquisition of Netonomy
- S&P 500 ends down as jobs data rekindles rate hike fear
- U.S. Adds 528,000 Jobs in July, Topping Estimates
- Berkshire Hathaway (BRK-A) (BRK-B) Posts Strong Operating Results Even As Buyback, Equity Buying Slows
- Amazon (AMZN) to Buy iRobot (IRBT) for $1.7 Billion
- Block (SQ) Stock Falls Despite Earnings Beat, Analysts Remain Positive
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Allot Communications Ltd. (NASDAQ: ALLT) announced today that it has signed a definitive agreement to acquire Netonomy Ltd., a developer of software-based cyber security for the connected home, with closing anticipated to occur in a very short period.
The acquisition is in line with Allot's strategy of providing Communications Service Providers (CSPs) with comprehensive security solutions for their customers. As the adoption of IoT and connected devices at home continues to grow rapidly, it is becoming increasingly difficult to manage and prevent security breaches on these devices. Netonomy's technology integrates a unique software component onto existing routers, enabling device management as well as a variety of protective security functionality on those devices.
Allot's leading mobile protection solutions are already deployed widely by CSPs to protect their mobile customers. Leveraging Netonomy's technology in concert with Allot's solutions will provide CSPs the ability to offer comprehensive and seamless security to the consumer anywhere, anytime.
"Allot continues to invest in leading network-based security capabilities to empower CSPs to offer value added security services to consumers and businesses," said Erez Antebi, President and CEO at Allot. "This acquisition complements our developments in Security by adding advanced home router protection capabilities, which are critical in the IoT Security value chain."
The consideration to be paid will not have a material impact on Allot's financial situation.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pfizer (PFE) in Global Blood Therapeutics (GBT) Takeover Talks
- Insulet Corporation (PODD) PT Raised to $280 at Stifel
- Tesla (TSLA) CEO Musk Says Economy is Past Peak Inflation
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!