In June 2016, Fortinet acquired IT security, monitoring and analytics software vendor, AccelOps. The company acquired app-hosting service XDN (formerly known as 3Crowd) in December 2012, Coyote Point in 2013, and Wi-Fi hardware company Meru Networks in 2015. įortinet made four notable acquisitions from 2012 to 2016. īy 2010, Fortinet had $324 million in annual revenues and held the largest share of the unified threat management market according to IDC. By the end of the first day of trading the company had raised $156 million in financing. In November 2009, Fortinet had an initial public offering. Also in 2009, CRN Magazine 's survey-based annual report card placed Fortinet first in network security hardware, up from seventh in 2007. Īccording to market research firm IDC, by November 2009 Fortinet held over 15 percent of the unified threat management market.
In August 2009, Fortinet acquired the intellectual property and other assets of Woven Systems, an ethernet switching company. Later that year, the company acquired the intellectual property of IPLocks, a database security and auditing company. Growth and expansion įortinet became profitable in the third quarter of 2008.
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The dispute ended a month later after Fortinet agreed to make the source code available upon request. In April 2005, a German court issued a preliminary injunction against Fortinet's UK subsidiary in relation to source code for its GPL-licensed elements. By 2004 Fortinet had offices in Asia, Europe and North America. The company began distributing its products in Canada in December 2003, and in the UK in February 2004. Fortinet's first channel program was established in October 2003. The company raised $13 million in private funding from 2000 to early 2003. The company was renamed to ApSecure in December 2000 and later renamed again to Fortinet, based on the phrase "Fortified Networks." įortinet introduced its first product, FortiGate, in 2002, followed by anti-spam and anti-virus software. In 2000, Ken Xie and his brother Michael Xie co-founded Appligation Inc.
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