Summary
Fortinet, Inc. (FTNT) announced on December 8, 2020, its acquisition of Panopta LLC, a cloud-native security SaaS platform. This strategic move aims to enhance Fortinet's Security Fabric platform by integrating Panopta's capabilities in visibility, automated management, alerting, and remediation for enterprise networks and infrastructure. The acquisition, valued at approximately $34.0 million in cash, is expected to bolster Fortinet's offerings in the rapidly growing cloud security market.
Key Highlights
- 1Fortinet acquired Panopta LLC, a SaaS platform for enterprise network and infrastructure visibility and management.
- 2The acquisition was completed on or around December 7, 2020.
- 3The total cash consideration for the acquisition was approximately $34.0 million.
- 4$340,000 of the purchase price is subject to escrow.
- 5Panopta's technology is expected to enhance Fortinet's Security Fabric platform, particularly in cloud security.
- 6This move signifies Fortinet's continued investment in expanding its cloud-native security capabilities.