Summary
Fortinet, Inc. announced on December 12, 2019, its acquisition of CyberSponse, Inc., a company specializing in Security Orchestration, Automation, and Response (SOAR) solutions. This strategic move, valued at approximately $28.0 million in initial cash consideration with a portion subject to escrow, signals Fortinet's intent to bolster its Security Fabric platform with advanced automation and response capabilities. Investors should view this acquisition as a move to enhance Fortinet's competitive position in the rapidly growing SOAR market. By integrating CyberSponse's technology, Fortinet aims to offer more comprehensive and automated security operations to its customers, potentially leading to increased market share and revenue growth. The addition of SOAR capabilities is crucial for addressing the increasing complexity and volume of cyber threats, allowing enterprises to respond more efficiently and effectively.
Key Highlights
- 1Fortinet acquired CyberSponse, Inc., a SOAR (Security Orchestration, Automation, and Response) provider.
- 2The acquisition was announced on December 12, 2019.
- 3Initial cash consideration for the acquisition was approximately $28.0 million.
- 4$4.8 million of the consideration is subject to holdback or escrow.
- 5This acquisition is expected to enhance Fortinet's Security Fabric platform.
- 6The move aims to strengthen Fortinet's capabilities in automated threat response and security operations.