{"id":524184,"date":"2021-08-05T09:03:59","date_gmt":"2021-08-05T13:03:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/check-point-software-announces-two-billion-dollar-expansion-of-share-repurchase-program\/"},"modified":"2021-08-05T09:03:59","modified_gmt":"2021-08-05T13:03:59","slug":"check-point-software-announces-two-billion-dollar-expansion-of-share-repurchase-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/check-point-software-announces-two-billion-dollar-expansion-of-share-repurchase-program\/","title":{"rendered":"Check Point Software Announces Two Billion Dollar Expansion of Share Repurchase Program"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">SAN CARLOS, Calif., Aug.  05, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HTCMiDyHhRrgiqMrUdfTeZkzO1LWl3PUJmu43S-CA1Q0p0bVa6TCl9ZmpY3Bxw2DBuyAGknNDtHHf3F-LWIiElZO2HqU0Tslc2PYza1Vyn_9NI4Ff6GePbB2bU3Ap4ze\" rel=\"nofollow noopener\" target=\"_blank\">Check Point\u00ae Software Technologies Ltd.<\/a> (NASDAQ: CHKP), a leading provider of cyber security solutions globally, today announced that its board of directors has authorized a $2 billion expansion of the company\u2019s on-going share repurchase program. Under the extended share repurchase program, Check Point is authorized to continue repurchasing its shares up to $325 million each quarter.<\/p>\n<p align=\"justify\">As of June 30, 2021, Check Point has approximately 133 million ordinary shares outstanding. Since the beginning of the share repurchase program, Check Point has repurchased approximately 188 million shares for a total purchase price of approximately $11.1 billion. The updated plan extends the company\u2019s existing repurchase program from February 2020 which is expected to be completed during the fourth quarter of 2021.<\/p>\n<p align=\"justify\">Share purchases under the extended repurchase program will take place in open market transactions or in privately negotiated transactions and may be made from time to time depending on market conditions, share price, trading volume, and other factors. Such purchases will be made in accordance with applicable U.S. securities laws and regulations. For all or a portion of the authorized repurchase amount, Check Point may enter into a plan that is compliant with Rule 10b5-1 of the United States Securities Exchange Act of 1934 that is designed to facilitate these purchases. The repurchase program does not require Check Point to acquire a specific number of shares, and may be suspended from time to time or discontinued. The share repurchases are expected to be funded from available working capital.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <em>About Check Point Software Technologies Ltd.<\/em><br \/>\n        <\/strong><br \/>\n        <br \/>Check Point Software Technologies Ltd. (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3L5OwJO-L-KQWQmkLWS0UmZy82YelNpe8I-wIPU3s8y4uC4V4BenvUvCLuZpI9I1W_VrVjqpb6rkpwHmen2vaRavdn9mvsayKls40XBy3-o=\" rel=\"nofollow noopener\" target=\"_blank\">www.checkpoint.com<\/a>) is a leading provider of cyber security solutions to corporate enterprises and governments globally.\u00a0 Check Point Infinity\u00b4s portfolio of solutions protects enterprises and public organizations from 5th\u00a0generation cyber-attacks with an industry leading catch rate of malware, ransomware and other threats. Infinity comprises three core pillars delivering uncompromised security and generation V threat prevention across enterprise environments: Check Point Harmony, for remote users; Check Point CloudGuard, to automatically secure clouds; and Check Point Quantum, to protect network perimeters and datacenters, all controlled by the industry\u2019s most comprehensive, intuitive unified security management. Check Point protects over 100,000 organizations of all sizes.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <em>Legal Notice Regarding Forward-Looking Statements<\/em><br \/>\n        <\/strong><br \/>\n        <br \/>This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.\u00a0 Forward-looking statements\u00a0generally relate to future events or our future financial or operating performance.\u00a0Forward-looking statements in this press release include, but are not limited to, statements related to statements related to our expectations regarding Check Point\u2019s share repurchase program and the updated share repurchase program.\u00a0 Check Point\u2019s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include our ability to continue to develop platform capabilities and solutions; customer acceptance and purchase of our existing solutions and new solutions; the market for IT security continuing to develop; competition from other products and services; general market, political, economic and business conditions; the market conditions, share price, trading volume of Check Point\u2019s ordinary shares; Check Point\u2019s strategic decisions regarding use of capital; and Check Point\u2019s working capital available for share repurchases. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including Check Point\u2019s Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 2, 2021. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.<\/p>\n<p>\u00a92021 Check Point Software Technologies Ltd. All rights reserved.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:40%;width:40%;min-width:40%\">\n            <strong>INVESTOR CONTACT:<\/strong>\n          <\/td>\n<td style=\"max-width:60%;width:60%;min-width:60%\">\n            <strong>MEDIA CONTACT:<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Kip E. Meintzer<\/td>\n<td>Gil Messing<\/td>\n<\/tr>\n<tr>\n<td>Check Point Software Technologies<\/td>\n<td>Check Point Software Technologies<\/td>\n<\/tr>\n<tr>\n<td>+1.650.628.2040<\/td>\n<td>+1.650.628.2260<\/td>\n<\/tr>\n<tr>\n<td>\n            <a href=\"mailto:ir@checkpoint.com\" rel=\"nofollow noopener\" target=\"_blank\">ir@checkpoint.com<\/a>\n          <\/td>\n<td>\n            <a href=\"mailto:press@checkpoint.com\" rel=\"nofollow noopener\" target=\"_blank\">press@checkpoint.com<\/a>\n          <\/td>\n<\/tr>\n<\/table>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODMwMzI3NSM0MzQyNzg0IzIwMDQxMjg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/3f8e90b9-6722-41a8-af22-d392236981b1\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SAN CARLOS, Calif., Aug. 05, 2021 (GLOBE NEWSWIRE) &#8212; Check Point\u00ae Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cyber security solutions globally, today announced that its board of directors has authorized a $2 billion expansion of the company\u2019s on-going share repurchase program. Under the extended share repurchase program, Check Point is authorized to continue repurchasing its shares up to $325 million each quarter. As of June 30, 2021, Check Point has approximately 133 million ordinary shares outstanding. Since the beginning of the share repurchase program, Check Point has repurchased approximately 188 million shares for a total purchase price of approximately $11.1 billion. The updated plan extends the company\u2019s existing repurchase program from February 2020 which is expected to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/check-point-software-announces-two-billion-dollar-expansion-of-share-repurchase-program\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Check Point Software Announces Two Billion Dollar Expansion of Share Repurchase Program&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-524184","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Check Point Software Announces Two Billion Dollar Expansion of Share Repurchase Program - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/check-point-software-announces-two-billion-dollar-expansion-of-share-repurchase-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Check Point Software Announces Two Billion Dollar Expansion of Share Repurchase Program - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAN CARLOS, Calif., Aug. 05, 2021 (GLOBE NEWSWIRE) &#8212; Check Point\u00ae Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cyber security solutions globally, today announced that its board of directors has authorized a $2 billion expansion of the company\u2019s on-going share repurchase program. Under the extended share repurchase program, Check Point is authorized to continue repurchasing its shares up to $325 million each quarter. As of June 30, 2021, Check Point has approximately 133 million ordinary shares outstanding. Since the beginning of the share repurchase program, Check Point has repurchased approximately 188 million shares for a total purchase price of approximately $11.1 billion. 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