Commtouch Software Ltd. (Nasdaq: CTCH; TASE: CTCH) today announced that it has signed a definitive agreement to acquire Icelandic antivirus company FRISK Software International Ltd. The company did not disclose the terms of the deal. The two companies have worked together for over 20 years, and FRISK currently provides important technology used by Commtouch's antivirus engine.
Commtouch provides cloud-based solutions for security companies and service providers. FRISK provides antivirus solutions for the OEM, corporate, and consumer markets, through its F-PROT brand, which has been used by millions of people and organizations for more than 20 years. Commtouch will utilize FRISK's staff and intellectual property to accelerate its launch of white label antivirus solutions for the OEM market, to provide more services and applications, and enhance its SaaS capabilities.
FRISK founder and CTO Friðrik Skúlason will join Commtouch as VP of antivirus technologies. He was the first to develop heuristic detection technology that is now widely used in antivirus products.
Commtouch CEO Shlomi Yanai said, "Because FRISK's technology is an important part of the Commtouch solution, the integration of FRISK's team will have a dramatic impact. We plan to release version 7 of F-PROT shortly after the acquisition closes. Providing exciting new functionality for the antivirus market, Version 7 is tailored to meet the white label needs of our OEM partners and service providers, including the ability to be fully rebranded and multilingual."
Yanai added, "Our strategy is to be a leading and innovative OEM solutions provider that is focused on going to market through partners."
Commtouch's share price rose 14.5% by midday on the TASE today to NIS 12.21, after rising 10.9% on Nasdaq yesterday to $2.94, giving a market cap of $71 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2012
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