By the end of the first day of trading, the company had raised $156 million. 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. 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 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. The company went public in November 2009. The company later added wireless access points, sandbox (computer security), and messaging security.

The company's first and main product was FortiGate, a physical firewall. The company develops and sells cybersecurity solutions, such as physical firewalls, antivirus software, intrusion prevention systems, and endpoint security components.īrothers Ken Xie and Michael Xie founded Fortinet in 2000. Fortinet is an American multinational corporation headquartered in Sunnyvale, California.

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