Boston, MA 02\/12\/2013 (wallstreetpr) – Growth in sales of Radware Ltd.(NASDAQ:RDWR); the Israeli company providing security software to banks, may finally see an upward trend with increasing cyber crimes against the U.S. financial institutions such as Bank of America Corp.(NYSE:BAC) and JP Morgan Chase & Co.(NYSE:JPM)<\/p>\n
The company\u2019s Chief Executive Officer, Roy Zisapel said, \u201cBanks and the financial sector are looking for the carriers to provide some kind of protection for them. That\u2019s where the opportunity is for us in the coming years.\u201d<\/p>\n
Economic growth of the company in Europe; the second-largest market; hit a decline. Consequently, the revenue earnings have also dropped by a figure of 34%. However, more recently the company has been receiving more contracts as financial institutions face increased threat of cyber attacks.<\/p>\n
Zisapel added, \u201cBank of America has a lot of security tools in their infrastructure, and still they\u2019re going down. That\u2019s the challenge, and that\u2019s where we\u2019re unique.\u201d<\/p>\n
Over the past three quarters, revenue earnings of Radware have fallen behind the analysts\u2019 estimates. However, sensing positive growth ahead, Zisapel said that rapid growth in Europe, Middle East and Africa in addition to increased growth in the U.S. was likely to give a boost to the sales figures.<\/p>\n
Recently, E-commerce applications developer Strangeloop Networks was purchased by Radware for $8.4 million. This move is aimed to increase the response-time of web-sites. Stressing that growth is the path to be adopted and not the take-over of the company, Zisapel said that any offer to buy the company is first referred to the board of directors. He also said that in his views as a \u201cprivate shareholder\u201d a 10% to 30% premium does not make much sense. \u201cMaybe the board will approve, but I would vote against\u201d.<\/p>\n
Radware Ltd.(NASDAQ:RDWR) shares were up by 1.02% and currently trading at $35.72. \u00a0Bank of America Corp.(NYSE:BAC) shares were up by 2.61% and currently trading at $12.17. JP Morgan Chase & Co.(NYSE:JPM) shares were up by 1.11% and currently trading at $49.20.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 02\/12\/2013 (wallstreetpr) – Growth in sales of Radware Ltd.(NASDAQ:RDWR); the Israeli company providing security software to banks, may finally see an upward trend […]<\/p>\n","protected":false},"author":32,"featured_media":5526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[265],"tags":[1654,1655,1653,1010,603,1652],"stock_ticker":[],"class_list":["post-5525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","tag-bank-of-america-corp-nysebac","tag-jp-morgan-chase-co-nysejpm","tag-nasdaqrdwr","tag-nysebac","tag-nysejpm","tag-radware-ltd-nasdaqrdwr","entry"],"acf":[],"yoast_head":"\n