Fortinet Sharpens Business Focus on Core Growth Areas to Extend Leadership Position and Drive Continued Innovation in Cybersecurity
SUNNYVALE, Calif., Nov. 02, 2023 (GLOBE NEWSWIRE) --
“Throughout our over 20-year history, Fortinet’s commitment to continual evolution has enabled us to remain at the forefront of innovation that supports our customers in safeguarding their infrastructure and data,” said Ken Xie, Founder, Chairman of the Board, and Chief Executive Officer at Fortinet. “Throughout this time, our founding principles of converging networking and security and consolidating point products into an integrated platform continue to reverberate across today’s cybersecurity market. Looking forward, we are confident that this is the right time to focus our operations around Secure Networking, Universal SASE, and Security Operations.”
Fortinet’s existing portfolio of integrated and organically developed products and services has a distinct competitive advantage in these three critical markets, making technology the cornerstone of this strategic shift.
Fortinet is uniquely positioned to deliver Secure Networking, Universal SASE, and Security Operations solutions as integrated platforms underpinned by AI-driven technologies?, unified management, leading threat intelligence, and one of the largest open ecosystems in the industry.
Operational technology (OT) systems differ significantly from traditional IT systems; with that in mind, Fortinet will also continue to deliver OT-aware security capabilities across all three areas, as well as provide OT-specific InfoSec tools, threat intelligence, and integration with third-party OT solutions to reduce risk and effectively secure OT environments.
In connection with re-focusing its technology investments, Fortinet will continue to drive its industry-leading innovation engine through a culture that encourages and rewards innovative thinking. This approach has already resulted in 949 U.S. industry patents—over two times more than the next closest cybersecurity competitor. Strategic shifts in Fortinet’s R&D investments have already resulted in the following major product launches and enhancements in 2023:
Fortinet’s investments in R&D are complemented by strategic shifts in its GTM investments that will also be centered around Secure Networking, Universal SASE, and Security Operations. Sales will be organized around these three strategic areas, enabled by training and marketing support, to ensure enhanced market penetration and improved customer engagement.
Copyright © 2023 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCWP, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMoM, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPlanner, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. 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, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.
This press release contains forward-looking statements that involve risks and uncertainties that may cause actual future results to differ from the forward-looking statement. These forward-looking statements include all statements regarding future results and predictions, such as any indications related to future market share gains, statements regarding any new focus or strategy accelerating Fortinet’s business expansion, guidance and expectations around future financial results, statements regarding the momentum in our business and future growth expectations, any statements regarding our market opportunity and market size, and business momentum. Although we attempt to be accurate in making forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based such that actual results are materially different from our forward-looking statements in this release. Important factors that could cause results to differ materially from the statements herein include the following: general economic risks, including those caused by economic challenges, a possible economic downturn or recession and the effects of inflation or stagflation, rising interest rates or reduced information technology spending; instability in the global banking system; supply chain challenges due to the current global environment; negative impacts from the ongoing war in Ukraine and its related macroeconomic effects and our decision to reduce operations in Russia, as well as the war in the Middle East; competitiveness in the security market; the dynamic nature of the security market and its products and services; specific economic risks worldwide and in different geographies, and among different customer segments; uncertainty regarding demand and increased business and renewals from existing customers; uncertainties around continued success in sales growth and market share gains; uncertainties in market opportunities and the market size; actual or perceived vulnerabilities in our supply chain, products or services, and any actual or perceived breach of our network or our customers’ networks; longer sales cycles, particularly for larger enterprise, service providers, government and other large organization customers; the effectiveness and productivity of our salesforce and failure to convert sales pipeline into final sales; risks associated with successful implementation of multiple integrated software products and other product functionality risks; risks associated with integrating acquisitions and changes in circumstances and plans associated therewith, including, among other risks, changes in plans related to product and services integrations, product and services plans and sales strategies; sales and marketing execution risks; execution risks around new product development and introductions and innovation; litigation and disputes and the potential cost, distraction and damage to sales and reputation caused thereby or by other factors; cybersecurity threats, breaches and other disruptions; market acceptance of new products and services; the ability to attract and retain personnel; changes in strategy; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organizations; technological changes that make our products and services less competitive; risks associated with the adoption of, and demand for, our products and services in general and by specific customer segments, including those caused by competition and pricing pressure; excess product inventory for any reason, including those caused by the effects of increased inflation and interest rates in certain geographies and the wars in Ukraine and the Middle East; risks associated with business disruption caused by natural disasters and health emergencies such as earthquakes, fires, power outages, typhoons, floods, health epidemics and viruses, and by manmade events such as civil unrest, labor disruption, international trade disputes, international conflicts such as the wars in Ukraine and the Middle East or tensions between China and Taiwan, terrorism, wars, and critical infrastructure attacks; tariffs, trade disputes and other trade barriers, and negative impact on sales based on geo-political dynamics and disputes and protectionist policies; any political and government disruption around the world, including the impact of any future shutdowns of the U.S. government; and the other risk factors set forth from time to time in our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q and our other filings with the Securities and Exchange Commission (“SEC”), copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from our investor relations department. All forward-looking statements herein reflect our opinions only as of the date of this release, and we undertake no obligation, and expressly disclaim any obligation, to update forward-looking statements herein in light of new information or future events.
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