Check Point checks in to the Nasdaq-100

Security specialist Check Point Software Technologies has been promoted to the Nasdaq-100 Index, knocking rival Network Associates out of the premier league.

The Nasdaq-100 represents the largest non-financial domestic and international issues on the American high-tech market. Check Point will join the top 100 on 18 December. The Israeli company, founded in 1993, specialises in firewall and VPN (Virtual Private Network) software and debuted on the stock market in 1996. Despite the current market turbulence the company has performed well, enjoying an average sales growth of almost 200 per cent over the past three years. Other companies promoted to the Nasdaq-100 include net hosting company Exodus Communications, infrastructure firm Inktomi and web monitoring specialist Mercury Interactive. Storage companies Adaptec, APC and Legato Systems, and circuit design firm Synopsys are all relegated.