|By Maureen O'Gara||
|September 15, 2010 06:30 AM EDT||
IBM and HP are competing for the hand of Israeli-based smart networking developer Radware whose acquisition will go down for close to a billion dollars according to Globes, the Israeli business paper whose inevitably unnamed and chatty sources are usually on the money.
Both IBM and HP are partners of the 14-year-old public company.
Globes expects Radware to get knocked down for $45 a share working out to a total of $945 million, a 60% premium.
Oddly enough IBM CEO Sam Palmisano Tuesday publicly scoffed at the premiums HP has been paying lately for 3PAR and now ArcSight claiming that it’s only because its internal innovation impulses have been starved by its penny-pinching ousted CEO whereas IBM’s own R&D budget is fat and sassy.
Globes quotes Oppenheimer as speculating the other day that Radware could get bought for its IP when it raised its price target to 30 bucks.
Radware’s Q2 revenues amounted to $35.2 million, up 30%, earning it $1.4 million. It’s got $160.4 million in the bank.
Its technology is supposed to ward off cyber-attacks. It also bought Nortel’s switch unit.
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