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Fortinet Receives Frost & Sullivan's 2011 Asia Pacific Growth Leadership Award for Firewall/IPSec VPNLeading Analyst Firm's Endorsement Recognizes the Company's APAC Growth Momentum and Enterprise Traction (November 30, 2011)
SUNNYVALE, CA -- (Marketwire) -- 11/30/11 -- Fortinet® (NASDAQ: FTNT) -- a leading network security provider and the worldwide leader of unified threat management (UTM) solutions -- today announced that it has received the 2011 Frost & Sullivan Asia Pacific Growth Leadership Award in the Firewall/IPSec VPN market.
The award is conferred to the technology vendor in the category that has shown the best growth and performance in the Asia Pacific market in 2010. Frost & Sullivan analysts and an international panel of judges evaluated the contenders of this award based on their revenue size and growth; growth strategy, implementation excellence and portfolio diversity; degree of innovation with products and technologies; and customer value.
According to Frost & Sullivan estimates, Fortinet achieved a 23.1% year-over-year growth in the APAC Firewall/IPSec VPN market in 2010, helping it become the fastest vendor among key players in the market. The Firewall/IPSec VPN category covers stand-alone firewalls, next-generation firewalls, integrated security appliances, secure routers and switches, and software.
"Despite challenging business conditions, Fortinet recorded an impressive growth rate. This success could be attributed to the vendor's commitment to technological excellence, as well as their ability to listen and cater to the evolving security requirements of the customer. By developing an intimate understanding across the heterogeneous markets in APAC, Fortinet was able to put together a compelling and effective go-to-market plan for their channel partners, and propel itself up the value chain in a highly competitive segment," said Edison Yu, Industry Manager for ICT, Frost & Sullivan Asia Pacific.
This year's award ceremony, attended by business leaders from the ICT and other sectors, was held at Singapore's historic Fullerton Hotel on November 29. Frost & Sullivan's awards represent one of the strongest endorsements vendors can get from the analyst community. Last year, Fortinet received the analyst firm's Asia Pacific ICT Award for Network Security Vendor of the Year. In 2008, Fortinet received Frost & Sullivan's Global UTM Market Leadership Award.
Fortinet enjoyed strong business and revenue growth in 2010. Asia Pacific and Japan revenue in fiscal 2010 was US$79.1 million, a rise of 24% from the previous year. In 2011 Fortinet posted its best quarter ever in the enterprise segment in its third quarter of 2011 results announced in October. The company closed the biggest enterprise contract in its 11-year history, while Japan saw a record quarter and Southeast Asia performed strongly.
"We are honoured to receive this award from Frost & Sullivan, which validates Fortinet's traction from organizations in Asia Pacific as we have invested heavily across the region, strengthening our partner program and our customer engagement process," said Patrice Perche, Fortinet's Senior Vice President for International Sales and Support. "The award is also recognition that our FortiGate platform today delivers the best combination of protection, flexibility and performance to enterprises and we will continue to push innovation to help businesses address their evolving security challenges."
About Frost & Sullivan (www.frost.com)
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
About Fortinet (www.fortinet.com)
Fortinet (NASDAQ: FTNT) is a worldwide provider of network security appliances and the market leader in unified threat management (UTM). Our products and subscription services provide broad, integrated and high-performance protection against dynamic security threats while simplifying the IT security infrastructure. Our customers include enterprises, service providers and government entities worldwide, including the majority of the 2010 Fortune Global 100. Fortinet's flagship FortiGate product delivers ASIC-accelerated performance and integrates multiple layers of security designed to help protect against application and network threats. Fortinet's broad product line goes beyond UTM to help secure the extended enterprise -- from endpoints, to the perimeter and the core, including databases and applications. Fortinet is headquartered in Sunnyvale, Calif., with offices around the world.
Copyright © 2011 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, FortiCare, FortiAnalyzer, FortiReporter, FortiOS, FortiASIC, FortiWiFi, FortiSwitch, FortiVoIP, FortiBIOS, FortiLog, FortiResponse, FortiCarrier, FortiScan, FortiDB and FortiWeb. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties, such as Frost & Sullivan, and Fortinet does not independently endorse such statements. Nothing in the news release constitutes a warranty, guaranty, or contractually binding commitment. This news release may contain forward-looking statements that involve uncertainties and assumptions, such as any forward-looking statements regarding momentum. Uncertainties such as changes in market dynamics and demand and changes in strategy could cause those statements to be incorrect. 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, including but not limited to, any statements related to expected trends in cybercriminal activity. These trends are difficult to predict and any stated expectations regarding these trends may not ultimately be correct. Fortinet assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to update forward-looking statements.
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