Strategic move will integrate Next DLP’s cloud-native SaaS data protection platform and leading AI/ML-based anomaly detection and classification capabilities to strengthen Fortinet’s offerings in standalone and integrated data loss prevention
SUNNYVALE, Calif., Aug. 06, 2024 (GLOBE NEWSWIRE) --
News Summary
Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced that it has acquired Next DLP, a leader in insider risk and data protection. With this acquisition, Fortinet will improve its position in the standalone enterprise data loss prevention (DLP) market and strengthen its leadership in integrated DLP markets within endpoint and SASE in alignment with Fortinet’s business strategy.
“The acquisition of Next DLP supports our goal of steadily and strategically enhancing our solutions to continue protecting enterprises with the top security solutions on the market,” said Ken Xie, Founder, Chairman of the Board, and CEO at Fortinet. “Next DLP will significantly strengthen our data loss prevention capabilities, helping customers manage insider risk across SASE and endpoint deployments.”
“Innovating data security has been our sole focus since day one. By prioritizing the protection of our customers, we have developed leading solutions for insider risk and data protection,” said Connie Stack, CEO at Next DLP. “Data security and protection against insider threats are top priorities for enterprises, and integrating Next DLP with Fortinet will extend the reach of our leading data security solutions to organizations worldwide.”
Fredrik Halvorsen of majority shareholder Ubon Partners said, “We see tremendous potential in combining Next DLP’s innovative technology with Fortinet’s market leadership. This acquisition recognizes the technical excellence of Next DLP’s team and provides a great platform for their further growth and success.”
Next DLP has been recognized by industry analysts for its technology innovation and was recently named a Representative Vendor in the 2023 Gartner Market Guide for Data Loss Prevention1 and the 2023 Gartner Market Guide for Insider Risk Management Solutions.2 The company delivers a leading next-generation, cloud-native SaaS data protection platform that extends from endpoint to cloud.
As part of its commitment to offering enterprises a top-tier Unified SASE solution, Fortinet plans to integrate Next DLP’s technology to add advanced data loss prevention capabilities to Fortinet’s security service edge (SSE) offering, as well as integrate additional insider risk and data protection capabilities across the Fortinet Security Fabric.
Transaction Details
The deal has been signed and closed as of August 5, 2024.
Additional Resources
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
1 Gartner Market Guide for Data Loss Prevention, Ravisha Chugh, Andrew Bales, 4 September 2023.
2 Gartner Market Guide for Insider Risk Management Solutions, Brent Predovich, 13 November 2023.
About Fortinet
Fortinet (NASDAQ: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere you need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet's solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including CERTs, government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.
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