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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, a leader in cybersecurity solutions, announced a conference call for its third quarter 2021 financial results on November 4, 2021, at 1:30 p.m. PT. Investors can access the call via Fortinet's investor relations website or by dialing in prior to the call. The results will provide insights into the company's financial performance and future outlook. Fortinet has a strong customer base of over 530,000, underscoring its position in the cybersecurity market. The company emphasizes its commitment to protecting digital environments for enterprises and service providers.
Fortinet (NASDAQ: FTNT) has announced that six new global service providers have adopted its Secure SD-WAN solution, including Comcast Business, Granite Telecommunications, and Tata Teleservices. This expansion highlights Fortinet's growing momentum, with over 30,000 customers utilizing its industry-leading SD-WAN technology. The solution enables service providers to enhance their managed services, improve operational efficiency, and offer superior user experiences while reducing costs through a unified security and networking solution.
Fortinet (NASDAQ: FTNT) announced its recognition as a Leader in the 2021 Gartner Magic Quadrant for WAN Edge Infrastructure, marking its second consecutive year in this position. The company attributes this achievement to its Secure SD-WAN innovation, which integrates Zero Trust Network Access (ZTNA) to enhance security and user experience for remote work environments. Fortinet's solution supports various use cases, simplifies WAN architecture, and enables secure, scalable connectivity across diverse business landscapes.
Fortinet and Linksys unveiled the Linksys HomeWRK for Business | Secured by Fortinet, a solution aimed at enhancing remote work connectivity with enterprise-grade security. Targeted at hybrid and remote employees, this device integrates Wi-Fi 6 technology and security features from Fortinet, addressing the challenges posed by increased cyber threats in work-from-home setups. The offering is set for release in Q4 2021 in the U.S. and globally in Q1 2022, available through affordable subscription models.
Fortinet (NASDAQ: FTNT) has announced a commitment to train 1 million individuals globally over the next five years through its Training Advancement Agenda (TAA) initiative and Network Security Experts (NSE) Training Institute. This initiative aims to close the cybersecurity skills gap, with the industry needing 3.12 million professionals according to an (ISC)2 report. Fortinet's efforts include partnerships with various organizations and a focus on diversifying the cybersecurity workforce.
Fortinet has partnered with the PGA TOUR for the Fortinet Championship, kicking off the 2021-2022 FedExCup Regular Season in Napa, California, from September 13-19, 2021. This inaugural event aims to tackle critical cybersecurity challenges and promote local charitable initiatives focusing on STEM, inclusion, and veterans' reskilling programs. Fortinet will host a Security Summit to discuss innovative technologies, featuring over 35 partners. Proceeds from the championship will support nonprofit organizations aligned with Fortinet's mission to bridge the cybersecurity skills gap.
Fortinet announces the integration of its FortiGate NGFW with the Dragos Platform, simplifying security deployment across Operational Technology (OT) environments. This collaboration aims to enhance asset visibility, vulnerability management, and threat detection for industrial asset owners. The integration allows for automated responses to threats while reducing maintenance burdens. Fortinet's Secure Processing Units (SPUs) enable high-speed detection and response, further bolstering security efforts. This partnership is expected to improve overall cybersecurity posture for joint customers.
Fortinet (NASDAQ: FTNT) highlights a concerning rise in cyberattacks, revealing a tenfold increase in ransomware incidents in June 2021 compared to the previous year. The FortiGuard Labs Global Threat Landscape Report emphasizes the need for collaboration amongst public and private sectors to combat cybercrime effectively. Organizations are urged to adopt advanced AI-powered defenses and continuous cybersecurity training to mitigate these evolving threats. The report also notes a rise in malvertising and botnet activities, emphasizing the growing sophistication of cybercriminal strategies.
Fortinet has announced the integration of FortiManager with HashiCorp Terraform, facilitating efficient security deployment and management in multi-cloud environments. This collaboration aims to automate security provisioning, reduce errors from misconfigurations, and streamline policy management. With over 90 percent of enterprises adopting multi-cloud strategies, this integration enhances organizations' ability to manage complex infrastructures. The FortiManager Terraform provider supports multiple FortiOS versions and is designed for better operational efficiency in cloud security.
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