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Fortinet, Inc. (NASDAQ: FTNT) is a leading global provider of network security appliances and the market leader in unified threat management (UTM). Headquartered in Sunnyvale, California, Fortinet develops comprehensive cybersecurity solutions that help businesses protect against dynamic security threats while simplifying IT security infrastructure. The company's flagship product, FortiGate, offers ASIC-accelerated performance and integrates multiple layers of security to safeguard against application and network threats. Fortinet's extensive product line extends beyond UTM to secure the entire enterprise, from endpoints to the core network, including databases and applications.
Fortinet's platform-based cybersecurity offerings cover network security, cloud security, zero-trust access, and security operations. The company generates most of its revenue through sales of its subscription and support-based services. With over 700,000 customers worldwide, including many from the 2010 Fortune Global 100, Fortinet has established itself as a trusted cybersecurity provider for enterprises, service providers, and government entities globally.
Recent achievements include the launch of the FortiGate Rugged 70G with 5G Dual Modem, designed for industrial environments and remote ATMs. This new product merges enterprise-grade threat protection with high-performing networking capabilities, ensuring high availability and secure connectivity in extreme conditions. Fortinet's commitment to innovation is evident in its continuous development of the FortiOS, the industry's most powerful network security operating system. The latest version, FortiOS 7.6, introduces new generative AI features, enhanced data protection, and managed services to help customers mitigate risks and simplify network management.
Financially, Fortinet has shown strong performance. For the fourth quarter of 2023, the company reported significant growth in Security Operations billings and SASE billings, driven by a successful sales strategy shift and improved execution. The firm's platform strategy continues to resonate with enterprises worldwide, positioning Fortinet as a leader in secure networking and firewall solutions.
Fortinet is also committed to closing the global cybersecurity skills gap. Through the Fortinet Training Institute, the company offers extensive training programs and has made remarkable strides in providing cybersecurity education to underserved communities, including women and veterans. Fortinet's collaboration with various public and private entities further emphasizes its dedication to enhancing global cyber resilience.
Learn more about Fortinet's innovations, financial highlights, and commitment to cybersecurity at Fortinet.com.
Fortinet (NASDAQ: FTNT) announced the launch of FortiCNP, a cloud security solution designed to enhance risk management and deliver near-real-time threat protection. This tool features patented Resource Risk Insights technology, which provides actionable insights to prioritize high-risk security alerts. FortiCNP integrates seamlessly with AWS services, including Amazon GuardDuty, allowing for agentless malware detection across cloud environments. The collaboration aims to simplify security operations and improve productivity for organizations adopting hybrid IT architectures.
Fortinet has announced a new free training service for over 8 million staff and faculty in U.S. schools, coinciding with the White House National Cyber Workforce and Education Summit. This initiative aims to address the cybersecurity skills gap and is part of Fortinet's commitment to train 1 million people in cybersecurity by 2026. The training will help educational institutions mitigate threats and manage risks associated with cybersecurity, while the company collaborates with various sectors to build a diverse workforce.
Fortinet, a leader in cybersecurity, announced the Fortinet Championship PGA TOUR event to be held from September 15-18, 2022, at the Silverado Resort in Napa, California. The event will feature a Security Summit Symposium and a Technology Vendor Expo, showcasing the latest advancements in cybersecurity. Industry leaders, including executives from Fortinet, will discuss crucial topics such as managing cyber risks and securing critical infrastructure. Proceeds will support local nonprofits and initiatives aimed at closing the cybersecurity skills gap.
Fortinet, a leader in cybersecurity, announced a conference call to discuss its second quarter 2022 financial results on August 3 at 1:30 p.m. PT. The call will be available live on the company’s investor relations website. With over 580,000 customers, Fortinet delivers integrated, automated security solutions, securing vital data and connections across various platforms. The company's ongoing commitment to excellence is underscored by its recognition as a top provider of security appliances worldwide, enhancing trust in its service as digital threats continue to evolve.
The latest CIO research, sponsored by Masergy and Fortinet, reveals accelerating investments in Secure Access Service Edge (SASE) solutions, driven by the need for sustainable remote work. Key findings highlight that 94% of respondents experienced increased SASE adoption. Users reported significant benefits exceeding expectations in connectivity, security performance, and cost savings. The study also underscores the importance of solutions integrating SD-WAN, cloud security, and AI. Over 200 IT leaders from U.S.-headquartered companies were surveyed, reflecting strong market interest in converging security and networking.
Fortinet has partnered with Singapore's National University of Singapore (NUS) to enhance quantum security technologies through a memorandum of understanding signed on June 3, 2022. This collaboration supports Singapore's National Quantum-Safe Network (NQSN) initiative, aimed at developing a secure communications infrastructure against evolving cyber threats. Fortinet will provide resources, including prototypes that interface with quantum devices, to explore practical use cases for quantum-safe communications. Their technology supports Quantum Key Distribution (QKD), which enables secure encryption key transmission.
Fortinet (NASDAQ: FTNT) announced a five-for-one forward stock split, effective June 22, 2022. This decision follows prior disclosure on April 22, 2022. The stock split requires stockholder approval during the Annual Meeting on June 17, 2022, which will also address an Amended Certificate of Incorporation to increase authorized shares. If approved, each share will convert to five, with trading on a split-adjusted basis starting around June 23, 2022. This marks Fortinet's second stock split, the first being a two-for-one split in 2011.
Fortinet (NASDAQ: FTNT) has established the Public Sector Advisory Council (PSAC) to address growing cybersecurity threats. The Council comprises leaders with extensive government backgrounds, including Gary Locke and James Clapper, who will provide strategic counsel on critical cybersecurity challenges. This initiative aims to enhance public-private partnerships for improving cybersecurity across various public sector organizations. Fortinet emphasizes its commitment to securing infrastructure against sophisticated cyber attacks targeting government entities.
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