Fortinet(NASDAQ:FTNT) has announced that it has entered into a definitive merger agreement to acquire Coyote Point Systems Inc. Founded in 1999, Coyote Point markets the Equalizer ADC product line.
"This acquisition complements Fortinet’s Network Security strategy and allows the company and our channel partners to accelerate and further deliver on our vision of providing complete and comprehensive security into the enterprise," said Ken Xie, Founder, President & Chief Executive Officer, Fortinet.
It is expected that the latest acquisition will generate synergy among existing Fortinet products, including ourFortiGate, FortiBalancer, FortiDDoS and FortiWeb platforms.
Bill Kish, CEO & Founder of Coyote Point, said, “While Coyote Point has built a top-class ADC product portfolio and loyal customer base, there has always been a tradeoff around resources. We look forward to being a member of the Fortinet family and the opportunity to make strategic technology investments in our ADC platform.”
Terms of the acquisition are not being disclosed. However, it is expected to be materialized only after Fortinet’s Q1 operating results. So, stay tuned to get more updates on this.
