Stonesoft said that the European Commission was investigating its complaint. Check Point shares rose 5.41% yesterday to $45.24.
Finnish network security company Stonesoft Corporation has lodged a complaint with the European Commission about the actions taken by the Israeli data security corporation Check Point (Nasdaq: CHKP) in the VPN (Virtual Private Network)/firewall market.
Based on this complaint, the European Commission is investigating whether Check Point is abusing its dominant position in the market by restricting free competition.
Stonesoft Corporation released its next generation StoneGate firewall and VPN solution in March of 2001. Stonesoft said that its StoneGate solution is based on numerous innovations and technologies, for which it has submitted patent applications. Its new technology helps customers to significantly improve the availability and security of their information networks, the company said.
Stonesoft Corporation CEO Esa Korvenmaa said, “The StoneGate-technology has been warmly welcomed by the markets. Our success has been based on our good products and effective distribution channel, which is basically common to Stonesoft and Check Point products. Our goal is to ensure the success of the sales and distribution of our technology”.
Check Point shares rose 5.41% yesterday to $45.24.
Published by Israel's Business Arena on 20 June, 2001