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Fortinet, Inc. (FTNT)

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  • Jul. 23, 2013, 9:29 AM
    Cisco (CSCO) appears to have two main goals with the Sourcefire (FIRE) acquisition: 1) To grow its exposure to the intrusion prevention system (IPS) space, which is growing rapidly as reports of major hacking incidents put governments and enterprises on edge. Sourcefire, the IPS market's leader, has been expected to grow 25% in 2013. Cisco's security sales fell 4% Y/Y last quarter. 2) To develop end-to-end security platforms that combine traditional firewall tools with more software-centric offerings providing application/service-level security and a deeper understanding of user activity. Palo Alto Networks (PANW - next-gen firewall leader) and Fortinet (FTNT - UTM hardware leader) are each addressing this trend in their own ways. (PR) (John Chambers' security "blank check")
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  • Jul. 23, 2013, 8:18 AM
    Palo Alto Networks (PANW) rips 7% and and Fortinet (FTNT) 9% after Cisco beefs up its security business by buying Sourcefire for $76/share.
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  • Mar. 22, 2013, 9:26 AM
    Fortinet (FTNT) is encroaching on F5's (FFIV) turf by acquiring Coyote Point Systems, a maker of application delivery controllers (ADCs) for SMBs. Fortinet claims Coyote Point's products, which (like F5's) rely on a proprietary OS, complement its core FortiGate unified threat management security hardware, as well as its firewall and denial-of-service appliances. The purchase comes as F5, which sells to enterprises and carriers in addition to SMBs, launches firewall hardware, as well as security modules for its ADCs.
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  • Jan. 14, 2013, 2:08 PM
    John Chambers recently said he gave Chris Young, the SVP in charge of Cisco's (CSCO) security ops, a "blank check" to hire and acquire as necessary over the next 2-3 years. Moreover, sources tell Reuters Cisco has been actively looking for security acquisitions. Chambers' motivation: while Cisco's security ops post modest growth, upstarts such as PANW, FTNT, and FIRE are growing much faster thanks to their focus on segments such as next-gen firewalls, UTM hardware, and IPS systems, products that offer deeper analysis of content/apps than traditional firewalls.
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  • Jan. 11, 2013, 1:19 PM
    Fortinet (FTNT -0.1%) has bought content delivery network (CDN) software startup XDN, XDN discloses on its blog. A Fortinet exec tells Light Reading XDN, whose software handles domain name requests and other Web traffic, was purchased to strengthen Fortinet's cloud security management offerings. He adds Fortinet envisions businesses adopting a "hybrid" security model that combines security hardware and cloud services over the long run. Rival Palo Alto Networks has also taken an interest in cloud security services.
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  • Aug. 15, 2012, 10:23 AM
    EMC COO David Goulder re-affirms his company's interest in buying security companies (previous). EMC, whose Q2 security software sales rose 13% Y/Y, has been looking to reduce its storage hardware exposure lately, as storage value-add increasingly shifts to software running on servers. Potential targets include richly-valued names such as Palo Alto Networks, Fortinet, and Sourcefire, and less costly vendors such as Vasco Data, IntraLinks, and Websense.
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  • Mar. 13, 2012, 1:24 PM
    Now that P-E firm Thoma Bravo has sold SonicWALL to Dell, it might turn its sights on acquiring Brocade (BRCD +1.9%), believes FBN's Shelby Seyrafi, who also thinks the deal will spell increased competition for Fortinet (FTNT). Brocade's buyout talks with Blackstone recently broke down.
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Company Description
Fortinet Inc is provider of network security solutions that are designed to address the fundamental problems of an increasingly bandwidth-intensive network environment and a more sophisticated information technology threat landscape.
Sector: Technology
Country: United States