CyberArk Lower After CEO Hints He Has No Interest In Being Acquired By Check Point Software
Shares of Cyberark Software Ltd (NASDAQ: CYBR) were trading lower by more than 2 percent early Wednesday afternoon after the company's CEO Udi Mokady hinted he is not interested in being acquired by rival Check Point Software Technologies Ltd. (NASDAQ: CHKP).
Rumors surfaced on January 13 that Cyberark is being eyed as an acquisition target by Check Point Software.
Related Link: Cyberark Spikes 18% Following Merger Chatter; Oppenheimer Assigns 'Low Probability' On Transaction
Speaking to Reuters on Wednesday, Mokady suggested that he is interesting in growing his company "independently."
"We're no different from any other company," Mokady said. "We're focused on our opportunity."
He added, "Our goal is to really build it large."
Shares of Check Point Software were trading lower by 0.7 percent at $75.52.
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