Radware Shares Surge Following Acquisition Rumours

Shares in networking and security software maker Radware surged by 33 per cent following rumours of an acquisition by either HP or IBM.

Israeli business publication Globes has reported that the company is on the verge of being acquired by either HP or IBM for $945 million, or $45 per share - marginally higher than the ongoing share price.

The business publication, which did not cite any sources confirming the rumour, said that Radware CEO Roy Zisapel and his father, Yehuda, could gain around $200 million from the acquisition deal.

Founded in 1996, the company is a part of the RAD Group, which is made up by a number of technology start-ups and public companies.

So far, none of the companies involved have commented on the potential acquisition.

The rumour comes at a time when data centre and computer manufacturers are acquiring data storage and data security start-ups to create bundled products for customers to meet the increasing demand for data security and storage optimisation in data centres.