Fortinet bumped its initial public providing (IPO) at the eleventh hour, providing an additional five hundred,000 shares at a beginning worth of US$12.50 per share. That was on top of the $9-to-$11 vary the corporate had been expected to open at. The stock (FTNT) finished the day on the National Association of Securities Dealers Automated Quotations at $16.62.
With 12.5 million shares sold-out, the Sunnyvale, California, company raised quite $156 million through the providing.
Fortinet sells unified-threat-management appliances, that provide customers one read of various security threats like spam, viruses and network intrusions. Continue reading “Security trafficker Fortinet Sparkles in IPO”
Network security appliance maker Fortinet can expand its offerings for application delivery by exploit in private control Coyote purpose Systems.
On Friday, the corporate declared a definitive agreement to shop for Coyote purpose for Associate in Nursing unrevealed total. Fortinet makes firewalls for little, medium-size and enormous businesses, whereas Coyote purpose focuses on traffic management appliances for rising application performance. Fortinet aforementioned Coyote Point’s product would complement its own.
Fortinet aforementioned it will not straightaway amendment Coyote Point’s product, sales channels or client support, nor its own product. Coyote purpose can maintain its headquarters in Millerton, New York, once the acquisition. Fortinet is predicated in Sunnyvale, California. it’s concerning one,800 staff and denote revenue of US$534 million last year. Continue reading “Fortinet to Buy Coyote Point to Merge Security with Application Delivery”
Fortinet has declared convenience of a brand new FortiGate unified threat management device which will eventually replace Associate in Nursing older model for midsize businesses.
The FortiGate-620B is an element of a refresh of the hardware utilized in Fortinet’s line of multifunction security platforms and can eventually replace the FortiGate-1000A, the corporate says.
The new UTM contains a quicker firewall than the older box — 16Gb vs. 4Gbps — and quicker antivirus screening at 250Mbps as against 100Mbps for the older device. At $16,000, the value of the FortiGate-620B is $1,000 over for the FortiGate-1000A. Continue reading “Fortinet beefs up midrange FortiGate security appliance”
Shares of security vendor Fortinet surged 33 percent Wednesday as the company made its debut on the public markets.
Fortinet bumped its initial public offering (IPO) at the last minute, offering an extra 500,000 shares at a starting price of US$12.50 per share. That was above the $9-to-$11 range the company had been expected to open at. The stock (FTNT) ended the day on the Nasdaq at $16.62.
With 12.5 million shares sold, the Sunnyvale, California, company raised more than $156 million through the offering. Continue reading “Security vendor Fortinet sparkles in IPO”
Fortinet has filed a petition with the U.S. Patent and Trademark Office to re-examine a security patent held by Trend Micro.
The Trend Micro patent in question, 5,623,600, covers virus detection and removal processes. The patent has led to a few skirmishes in the security industry, notably a battle between Trend Micro and Barracuda Networks. Fortinet says its petition identifies prior art that makes Trend Micro’s patent invalid. Continue reading “Fortinet, Trend Micro security patent skirmish heats up”