SUNNYVALE, CA -- (Marketwired) -- 06/07/16 --
Ken Xie, founder, chairman of the board and chief executive officer, Fortinet
"Sixty-percent of all security breaches result in stolen data starting within minutes of the breach and go undetected due to ineffective threat monitoring and security event correlation. In addition, the lack of a holistic view across organizations' entire distributed, multi-vendor networks and the growing quantity and complexity of threat information create big-data security challenges. With the acquisition of AccelOps, Fortinet extends its Security Fabric to address these challenges by combining security and compliance monitoring with advanced analytics for multi-vendor security solutions, enabling automated and actionable security intelligence from IoT to the cloud."
(NASDAQ: FTNT), the global leader in high-performance cyber security solutions, today announced its acquisition of AccelOps, a leading provider of network security monitoring and analytics solutions. The acquisition further extends Fortinet's recently announced Security Fabric strategy by enhancing network security visibility, security data analytics and threat intelligence across multi-vendor solutions.
- AccelOps solutions will become FortiSIEM and become part of the Fortinet Security Fabric. This will provide customers with greater visibility across both Fortinet and multi-vendor security solutions, thereby enabling more comprehensive end-to-end network segmentation strategies, from IoT to cloud. Security correlation and analytics results will feed directly into the Security Fabric allowing automated threat prevention.
- Next Generation Security Information and Event Management, or Next Gen SIEM, capabilities from AccelOps coupled with FortiGuard Labs global threat intelligence and third-party threat feeds will be integrated into the Fortinet Security Fabric. Enterprises will benefit from prioritized, coordinated responses and actionable threat intelligence across the distributed network on a subscription basis.
- AccelOps's Security Operations Center (SoC) and Network Operations Center (NoC) capabilities will power Managed Security Service Providers (MSSPs) and Fortinet Support Services, including a new subscription service called FortiCare 360° Support. This new service will provide customers with automated security and performance audits of their specific security infrastructure and advisories to help prevent unplanned service disruptions as well as prevent problems before they impact performance and service delivery.
- AccelOps currently serves hundreds of clients across numerous vertical industries, including a strong presence in the Enterprise, Government, and Managed Service Provider segments. This acquisition builds on Fortinet's already significant and growing total addressable market, with entry into the $2 billion SIEM market, which Gartner projects to grow to $2.9 billion by 2019.
Partha Bhattacharya, founder and chief technology officer, AccelOps
"Fortinet and AccelOps share a common vision of providing holistic, actionable security intelligence across the entire IT infrastructure. Our mission has always been to help our customers make security and compliance management as effortless and effective as possible. The synergies between AccelOps's solutions and Fortinet's Security Fabric vision and thought leadership will ensure that our customers are protected with the most scalable and proven global threat intelligence, security and performance analytics and compliance and control across all types of network environments with multiple security and networking vendor products."
The acquisition is complete and effective immediately. Fortinet does not expect the transaction to have a material impact on the Company's second quarter or full year 2016 financial guidance disclosed on April 26, 2016. Certain additional financial terms are disclosed in a supplemental Form 8-K filing, which can be accessed at: http://investor.fortinet.com/sec.cfm.
AccelOps is the leading provider of scalable network security monitoring and analytics solutions. AccelOps has fundamentally changed the way organizations identify, prevent and manage threats, unifying network security monitoring and network performance analytics by providing unprecedented insight into the network. AccelOps's virtual appliance software monitors security, performance and compliance in local and virtualized infrastructures, resulting in a unified view of the environment. The software seamlessly discovers, analyzes and automates IT issues across multi-tenant or single networks, spanning servers, devices, storage, networks, security, applications and users.
Fortinet(NASDAQ: FTNT) secures the largest enterprise, service provider, and government organizations around the world. Fortinet empowers its customers with intelligent, seamless protection across the expanding attack surface and the power to take on ever-increasing performance requirements of the borderless network -- today and into the future. Only the Fortinet Security Fabric architecture can deliver security without compromise to address the most critical security challenges, whether in networked, application, cloud or mobile environments. More than 270,000 customers worldwide trust Fortinet to protect their businesses. Learn more at http://www.fortinet.com, the Fortinet Blog, or FortiGuard Labs.
Copyright © 2016 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and unregistered trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet's trademarks include, but are not limited to, the following: Fortinet, FortiGate, FortiGuard, FortiManager, FortiMail, FortiClient, FortiCloud, FortiCare, FortiAnalyzer, FortiReporter, FortiOS, FortiASIC, FortiWiFi, FortiSwitch, FortiVoIP, FortiBIOS, FortiLog, FortiResponse, FortiCarrier, FortiScan, FortiAP, FortiDB, FortiVoice and FortiWeb. Other trademarks belong to their respective owners. Fortinet has not independently verified
statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, binding specification or other binding commitment by Fortinet, and performance and other specification information herein may be unique to certain environments. This news release contains forward-looking statements that involve uncertainties and assumptions, such as the benefits of the acquisition of AccelOps, the integration plans of the AccelOps products and services, plans regarding new products and services, and others. Changes of circumstances, product release delays and changes in product plans, execution risks, integration risks and other risks associated
with acquisitions in general, and other risks as stated in our filings with the Securities and Exchange Commission, located at www.sec.gov, may cause results to differ materially from those expressed or implied in this press release. If the uncertainties materialize or the assumptions prove incorrect, results may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Fortinet assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to update these forward-looking statements.
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