Radware Ltd. is looking to spend about $300 million on acquisitions to add to its cybersecurity offerings, Chief Operating Officer Gabi Malka said.
The company, whose technology acts like a traffic cop in computer networks by routing tasks to make sure applications run smoothly, has adapted its products to cloud-based software and added cybersecurity features, like defending against distributed denial-of-service attacks (DDoS). Now it’s on the hunt for companies that can add to its suite of security products, Malka said.
“It’s obvious to us that the future growth of the company will be a mix of organic as well as inorganic growth,” he said in an interview at Radware’s Tel Aviv offices. “We are looking at both technology tuck-ins as well as significant business acquisitions.”
Radware has a partnership with Checkpoint Software Technologies Ltd. and announced a deal with Cisco Systems Inc. last month to have its DDoS mitigation technology offered through Cisco’s new cybersecurity platform.
Malka said he expects to see revenue from the Cisco partnership in early 2016. The company’s sales are forecast to grow 11 percent this year to $247 million, according to the average estimate of nine analysts surveyed by Bloomberg.
The company’s shares have fallen 3.2 percent this year through Tuesday, compared with a 7.8 percent gain in the Nasdaq Composite Index. Radware rose 0.6 percent to $21.44 at 9:57 a.m. in New York.