JERUSALEM, July 30 (Reuters) - The CEO of Check Point

Software Technologies ( CHKP ) said the Israeli company was not

looking to be bought out like some local rivals, as it reported

a second-quarter profit boosted by higher sales of products to

protect and prevent corporate networks from cyber threats.

Nadav Zafrir on Wednesday said the network security company,

which is valued at $24 billion and whose Nasdaq-listed shares

are up 17% so far this year, would prefer to use its $3 billion

cash pile on its own acquisitions.

A day earlier the Wall Street Journal reported that Palo Alto

Networks ( PANW ) was in talks to acquire Israeli rival CyberArk

Software in a deal that could be worth more than $20 billion,

while Google is buying Wiz for $32 billion

Zafrir told reporters his company, which operates an open

platform, had not been approached by Palo Alto, nor was it

interested.

"We have a strategy...to be the number one player in the

world...Strategic acquisitions are definitely a part of that,"

Zafrir said.

"We always have the option to either build it or buy it, or

do both at the same time," he said.

Check Point reported earnings of $2.37 per diluted share

excluding one-off items for the April-June quarter, up 9% from a

year earlier and broadly in line with the $2.36 expected by

analysts, according to LSEG data.

Revenue grew 6% to $665 million, just topping LSEG's forecast

of $662 million.

Product and licence revenue rose 12% to $132 million in the

quarter, while security subscription revenue gained 10% to $298

million.

Zafrir said the third quarter is "shaping up well with

strong July indicators".

"We have a healthy pipeline heading into the second half of

the year underscoring our full-year outlook," he added.

Check Point bought back 1.5 million of its own shares at a

total cost of about $325 million in the second quarter.