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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) has appointed Ken Goldman, former CFO and board member, back to its Board of Directors. With over 40 years of experience, including roles at Fortune 500 companies like Yahoo! and Siebel Systems, Goldman aims to enhance the company's strategic vision as it expands into new markets. CEO Ken Xie expressed enthusiasm about Goldman's return, noting the significant depth and expertise he brings. Goldman previously served as Fortinet's CFO and has held high-level positions across multiple prestigious organizations.
Fortinet (NASDAQ: FTNT) has released its FortiGuard Labs Global Threat Landscape Report for H1 2020, highlighting a dramatic increase in cyber threats during the COVID-19 pandemic. Attackers have exploited the surge in remote work, targeting IoT devices and consumer-grade routers. Ransomware incidents have not diminished, with COVID-19-themed messages used as lures. The report shows a significant rise in phishing attacks and the urgency for organizations to secure their remote workforces. Overall, the evolving threat landscape necessitates robust cybersecurity measures to mitigate risks.
Fortinet has launched the FortiGate 4400F, the world's first hyperscale firewall, designed to enhance cybersecurity for hyperscale data centers and 5G networks. This new firewall utilizes the NP7 network processor, providing up to 13 times better performance than competitors. It addresses the growing need for secure, high-speed connections, supporting millions of simultaneous connections while preventing DDoS attacks. The FortiGate 4400F aims to solve the security challenges faced by modern businesses, offering unmatched scalability and security in a single appliance.
Fortinet (NASDAQ: FTNT) has announced significant advancements in its Secure SD-WAN solutions, particularly with the launch of the FortiGate 80F appliance. This innovation showcases a 247% year-over-year revenue growth in Fortinet's SD-WAN segment, leading to its recognition as the fastest-growing vendor in the industry. The new appliance offers advanced networking capabilities and robust security features optimized for multi-cloud environments. Fortinet's strategic focus on scalable SD-WAN solutions positions it as a market leader, providing enterprises with enhanced application experiences and operational efficiencies.
Fortinet (NASDAQ: FTNT) announced its Security-as-a-Service (SECaaS) offerings through FortiCloud, which helps clients like Continent 8 Technologies, Illinois State Treasurer, and SuperCare Inc. manage and secure their cloud environments efficiently. FortiCloud simplifies security management, reducing complexities and risks associated with multi-cloud environments. The platform provides comprehensive security solutions, enhancing both on-premises and cloud security, while customers report improved visibility and streamlined operations.
Fortinet (NASDAQ: FTNT), a leader in integrated cybersecurity solutions, announced the acquisition of OPAQ Networks, a Secure Access Service Edge (SASE) cloud provider. This strategic move enhances Fortinet's SASE offerings by integrating OPAQ's Zero Trust Network Access (ZTNA) cloud solution, thus protecting distributed networks including IoT devices. The deal positions Fortinet to deliver a robust, partner-friendly SASE platform that emphasizes scalability and security, leveraging their patented zero-trust cloud architecture. Financial terms of the acquisition remain undisclosed.
Fortinet (NASDAQ: FTNT) has launched its Secure SD-WAN for Multi-Cloud, addressing challenges in application performance, visibility, and control across various cloud services. With 93% of enterprises adopting multi-cloud strategies, Fortinet's solution provides seamless connectivity and security across diverse environments, eliminating deployment complexities and reducing costs. It features automated network overlays, centralized management, and optimized application traffic routing. This innovation complements Fortinet's existing offerings, providing an efficient architecture for enterprises in the evolving cloud landscape.
Fortinet (NASDAQ: FTNT), a leader in cybersecurity solutions, announced that its Secure SD-WAN has achieved MEF 3.0 SD-WAN certification. This certification validates Fortinet's compliance with high industry standards for SD-WAN performance, assurance, and agility. Fortinet is among the first technology vendors certified, highlighting its commitment to WAN transformation for enterprises and service providers. The company has been engaged with MEF since 2017 and is developing new security standards for SD-WAN services.
Fortinet and ElevenPaths have expanded their partnership to enhance managed security services for the industrial sector. This collaboration will leverage Fortinet's Security Fabric solutions to bolster protection for organizational OT, IT, and IoT environments amidst increasing security demands. Alberto Sempere of ElevenPaths emphasizes the need to manage security risks introduced by digital transformations, while Fortinet's extensive OT security suite offers comprehensive solutions to secure critical infrastructures. This alliance positions ElevenPaths as a leader in industrial cybersecurity.
Fortinet (NASDAQ: FTNT) has launched the Fortinet Corporate Foundation to enhance its global community impact and Corporate Social Responsibility initiatives. The foundation will match multi-million dollar employee contributions to support COVID-19 relief efforts. It aims to advance cybersecurity education and training while boosting public-private partnerships. Additional efforts include disaster relief in collaboration with the Information Technology Disaster Resource Center, leveraging technology to aid underserved communities.
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