Fortinet completes 10 Years in industry

by CXOtoday Staff    Nov 29, 2010

10 YearsNetwork security provider and unified threat management (UTM) solutions provider, Fortinet (NASDAQ: FTNT) recently announced its ten year company anniversary.

Today, Fortinet has also expanded its product line and has grown to be a full end-to-end security provider, with solutions for web application firewall, messaging security, database security, endpoint security and vulnerability management.

“Fortinet was founded to execute the vision for integrated network and content/application security that could keep up with Internet changes and threats without crippling network performance or administrative resources,” commented Ken Xie, founder, president and CEO of Fortinet.

The company states that it has shipped more than 600,000 systems to more than 100,000 customers worldwide, including the majority of the 2010 Fortune Global 500. Its customers are comprised of telecommunications carriers, U.S. Federal government agencies, managed security services providers (MSSPs) and enterprises of all sizes, many of which are focused on financial services, healthcare, retail and Federal markets. The company’s also listed on Initial Public Offering (IPO) in November 2009.

The recent Q3 2010 marked the fourth consecutive quarter since last year’s IPO that Fortinet exceeded its financial targets in terms of billings, which grew 33 percent Y-o-Y, and revenue, which grew 29 percent Y-o-Y, as well as profitability. The company attributes much of it to its team of people, surpassing 1,300 employees in 23 offices across the globe.