Imperva goes to the clouds against rivals F5 and IBM
April 13, 2014
Grazed from TheMalayMailOnline. Author: Editorial Staff.
Shlomo Kramer, the Israeli entrepreneur who made his name by co-founding the world’s second-largest security networks maker, is seeing investor support vanish for his latest cyber venture. Imperva Inc, the Redwood Shores, California-based company that builds security systems for data centers, sank 44 per cent last week after scaling back its first-quarter revenue growth outlook to a third of its previous forecast.
Almost all of the declines came in a single day, April 10. The rout erased US$584 million (RM1.9 billion) of market value and sent the stock to a 20-month low. Imperva, one of six Israeli online-security firms that Kramer has founded or financially backed over the past two decades, is facing growing competition from global powerhouses including International Business Machines Corp and F5 Networks Inc, Kramer, who is also the chief executive officer of Imperva, said the company missed its sales projection as competition for larger deals delayed orders, according to an April 9 statement…
“They had a significant miss,” Jonathan Ho, a Chicago- based analyst at William Blair & Co, said in an April 10 telephone interview. Investors were surprised as “the company would always downplay their competitors and always viewed themselves as having a strong competitive position,” he said…
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