Radware subject of bidding war talk


Radware subject of bidding war talk

Alex Scroxton

Hewlett-Packard may be about to embroil itself in a bidding war with IBM over Israel-based networking and security vendor Radware.

Market interest in Radware, which bought Nortel's layer 4-7 application delivery switch business for a bargain basement price in 2009, has soared since the reports emerged.

According to Israel's Globes news service, Radware could fetch as much as $945m or $45 per share, a 60% premium on its market price.

Should HP emerge as a buyer, it would be the vendor's third acquisition this month, following the multi-billion dollar purchases of 3Par and ArcSight.

Radware made sales of $35.2m in its most recently reported quarter, and posted GAAP net income of $1.5m.

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