Fortinet, a specialist in network security appliances and unified threat management (UTM), has started off the year with a number of announcements from – and about – the company, including a partnership with Euclid Analytics, the company behind Google Analytics, to develop the first ever network tracking and security solution through a retailer’s already established WiFi network. “We do very, very well with those (retail) customers,” said Fortinet’s Ryan Potter, Director of Security Strategy. “So it’s very logical place to add additional services and Euclid is a natural add-on.”
Euclid just launched Euclid Zero, a no-hardware solution for retailers, that will enable them to pick up unique mobile device IDs on smartphones when they recognize a store’s Wi-Fi network from WiFi partner companies like Fortinet, Aruba Networks, and Xirrus. Retailers can access aggregated – and anonymous – information on metrics like visit duration and frequency to optimize the performance of their marketing, merchandising and operations.
Euclid is just one of news items about Fortinet in the last few weeks. The California-based company has been picked as one of the top security takeover cadidates in 2013, according to a Stifel Nicolaus report.
“Consolidation has and will remain a key theme in the security space,” wrote analyst Todd Weller in a report published on Friday. “We continue to believe that larger tech companies (EMC, IBM, Hewlett-Packard could continue to view security as an attractive area from a growth perspective and as they continue to integrate compute, networking and storage. Within our coverage, we continue to view Fortinet and Sourcefire as representing the most attractive consolidation candidates.”
Potter said Fortinet is not seeking an acquisition. “We’re focused on being a $1 billion network security vendor.”
According to the Gartner and IDC numbers, the company is the fourth largest security appliance vendor. As of the third quarter 2012, Fortinet had 5.9% ($120 million) of the security appliance market, behind Cisco (16.2%), Check Point (12.8%) and Juniper (7.9%). According to IDC, it saw the largest growth among the top five vendors at 17.2%.
In a November 2012 report, Frost & Sullivan research showed that Fortinet generated 20.5% of global 2011 Unified Threat Management (UTM) market revenue. “The UTM market is a high-growth market that is forecasted to grow at an annual rate of 17.3% from 2011 to 2016,” stated Chris Rodriguez, senior industry analyst, Network Security with Frost & Sullivan and co-author of the UTM market report.
In addition to news about its market success and attractiveness to potential suitors, Fortinet also made a number of other announcements, including the acquisition of CDN provider XDN. The company said they acquired XDN for their patents, their engineers and their global traffic management technology and have shut down their CDN services.
On Monday Fortinet unveiled new network security appliances and switching platforms for distributed enterprises, including four FortiGate network security appliances: the FortiGate-60D, FortiWiFi-60D, FortiGate-60C-POE and the FortiGate-60CM-3G4G-B; and two new secure FortiSwitch platforms: the FortiSwitch-124B-POE and FortiSwitch-224B-POE. A week earlier it announced the FortiGate-5001C security blade, which will deliver up to 40 Gbps of firewall throughput and up to 17 Gbps of IPSec throughput. The company said it integrates security functions in a compact Advanced Telecom Computing Architecture (ATCA)-compliant blade form factor, including next generation firewall, virtual private network, application control, intrusion prevention, antimalware and Web filtering.
“Fortinet continues to raise the bar for firewall performance in enterprise networks,” said Rodriguez. “With the FortiGate-5001C, large enterprises, particularly those looking at data center consolidation, and managed security service providers can deploy the security they need without introducing latency. Security no longer needs to be a ‘speed bump’.”