Fortinet has released security updates to address 40 vulnerabilities in its software lineup, including FortiWeb, FortiOS, FortiNAC, and FortiProxy, among others.
Two of the 40 flaws are rated Critical, 15 are rated High, 22 are rated Medium, and one is rated Low in severity.
Top of the list is a severe bug residing in the FortiNAC network access control solution (CVE-2022-39952, CVSS score: 9.8) that could lead to arbitrary code execution.
"An external control of file name or path vulnerability [CWE-73] in FortiNAC web server may allow an unauthenticated attacker to perform arbitrary write on the system," Fortinet said in an advisory earlier this week.
The products impacted by the vulnerability are as follows -
Patches have been released in FortiNAC versions 7.2.0, 9.1.8, 9.1.8, and 9.1.8. Penetration testing firm Horizon3.ai said it plans to release a proof-of-concept (PoC) code for the flaw "soon," making it imperative that users move quickly to apply the updates.
The second flaw of note is a set of stack-based buffer overflow in FortiWeb's proxy daemon (CVE-2021-42756, CVSS score: 9.3) that could enable an unauthenticated remote attacker to achieve arbitrary code execution via specifically crafted HTTP requests.
CVE-2021-42756 affects the below versions of FortiWeb, with fixes available in versions FortiWeb 6.0.8, 6.1.3, 6.2.7, 6.3.17, and 7.0.0 -
Both the flaws were internally discovered and reported by its product security team, Fortinet said. Interestingly, CVE-2021-42756 also appears to have been identified in 2021 but not publicly disclosed until now.
FORTINET — a global leader in broad, integrated and automated cybersecurity solutions — announced new security operations center (SOC) augmentation services, designed to help strengthen an organization's cyberresiliency and support short-staffed teams, strained by the talent shortage. In addition, as part of Fortinet's leadership efforts to help close the cyberskills gap, the Fortinet Training Institute has added initiatives across its programs to further increase access to its industry-recognized training and certifications.
The prevailing talent shortage remained one of the top challenges facing SOC teams globally. Fortinet's 2022 Cybersecurity Skills Gap report found that 50 percent of global leaders cited security operations as one of the most challenging roles to fill, and 42 percent were still in need of security operations analysts. Additionally, the same Fortinet survey found that worldwide, 80 percent of organizations suffered one or more breaches due to a lack of cybersecurity skills and awareness.
A lack of resources and personnel, combined with the sheer volume of security alerts SOC teams receive per day, often resulted in missed detections and slower responses that increased exposure to cyberrisk. SOC teams required an immediate solution to mitigate these challenges through investment in automated and integrated SOC, and cybersecurity technologies and experienced professionals to better protect against threats.
New and enhanced SOC augmentation services provided immediate support for short-staffed security operations teams.
Committed to helping organizations overcome these obstacles, Fortinet's new and enhanced services helped SOC teams to reduce their organizations' cyberrisk while freeing up their time to focus on higher-priority projects.
Fortinet on Thursday patched two critical bugs in its FortiNAC and FortiWeb products that if exploited could allow an unauthenticated attacker to execute unauthorized code or commands via a specifically crafted HTTP request.
While both were rated critical, the FortiNAC bug — CVE-2022-39952 — was rated at 9.8 and affected versions 9.4.0; 9.2.0 through 9.2.5; 9.1.0 through 9.1.7; 8.8.0 through 8.8.11; 8.7.0 through 8.7.6; 8.6.0 through 8.6.5; 8.5.0 through 8.5.4; and 8.3.7.
The FortiWeb bug — CVE-2021-42756 — was reported as a multiple stack-based buffer overflow vulnerabilty in the proxy daemon of FortiWeb 5.x all versions; 6.0.7 and below; 6.1.2 and below; 6.2.6 and below; 6.3.16 and below; and 6.4.
Fortinet encourages its users to do the upgrades as specified in its advisories for the FortiNAC and FortiWeb products.
Mike Parkin, senior technical engineer at Vulcan Cyber, said while there aren't a lot of details available on either of these issues beyond them being remote exploits, Fortinet did release updated versions that address the vulnerabilities.
“As always, especially with a security product, deploying using industry best practices and keeping up to date on patches are just the starting points,” said Parkin.
When asked about how the FortiWeb bug dates back to 2021, Parkin said he wish he knew the reason for the long time lag.
“We've all seen these long delays between a CVE reservation and an actual publication,” said Parkin. “It would be nice if there was more clarity about the delays when they happen.”
A Fortinet spokesperson said the FortiWeb bug was found internally and published in its February advisory as part of its product security incident response policies.
On February 8, 2023, Keybanc downgraded their outlook for Fortinet from Overweight to Sector Weight.
Analyst Price Forecast Suggests 15.97% Upside
As of February 9, 2023, the average one-year price target for Fortinet is $69.16. The forecasts range from a low of $55.55 to a high of $89.25. The average price target represents an increase of 15.97% from its latest reported closing price of $59.64.
The projected annual revenue for Fortinet is $5,501MM, an increase of 24.53%. The projected annual EPS is $1.43, an increase of 31.85%.
What are large shareholders doing?
Alliancebernstein holds 23,141K shares representing 2.96% ownership of the company. In it’s prior filing, the firm reported owning 19,737K shares, representing an increase of 14.71%. The firm increased its portfolio allocation in FTNT by 7.91% over the last quarter.
Price T Rowe Associates holds 21,748K shares representing 2.78% ownership of the company. In it’s prior filing, the firm reported owning 52,996K shares, representing a decrease of 143.68%. The firm decreased its portfolio allocation in FTNT by 53.80% over the last quarter.
Bank of New York Mellon holds 20,600K shares representing 2.64% ownership of the company. In it’s prior filing, the firm reported owning 21,235K shares, representing a decrease of 3.08%. The firm decreased its portfolio allocation in FTNT by 59.96% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 20,010K shares representing 2.56% ownership of the company. In it’s prior filing, the firm reported owning 20,088K shares, representing a decrease of 0.39%. The firm decreased its portfolio allocation in FTNT by 9.84% over the last quarter.
T. Rowe Price Investment Management holds 16,139K shares representing 2.07% ownership of the company.
What is the Fund Sentiment?
There are 1813 funds or institutions reporting positions in Fortinet. This is a decrease of 19 owner(s) or 1.04% in the last quarter. Average portfolio weight of all funds dedicated to FTNT is 0.36%, a decrease of 7.12%. Total shares owned by institutions increased in the last three months by 0.05% to 572,811K shares. The put/call ratio of FTNT is 0.67, indicating a bullish outlook.
Fortinet Background Information
(This description is provided by the company.)
Fortinet secures the largest enterprise, service provider, and government organizations around the world. Fortinet empowers its customers with complete visibility and control across the expanding attack surface and the power to take on ever-increasing performance requirements today and into the future. Only the Fortinet Security Fabric platform can address the most critical security challenges and protect data across the entire digital infrastructure, whether in networked, application, multi-cloud or edge environments. Fortinet ranks #1 in the most security appliances shipped worldwide and more than 500,000 customers trust Fortinet to protect their businesses. Both a technology company and a learning organization, the Fortinet Network Security Expert (NSE) Training Institute has one of the largest and broadest cybersecurity training programs in the industry.
This article originally appeared on Fintel
Fifth-generation security processing unit (FortiSP5) delivers unparalleled levels of power-efficient performance to open new frontiers for securing the branch, campus, 5G, edge compute, operational technologies, and more
Fortinet Custom ASIC FortiSP5
SUNNYVALE, Calif., Feb. 06, 2023 (GLOBE NEWSWIRE) --
Ken Xie, Founder, Chairman of the Board, and Chief Executive Officer at Fortinet
“With the introduction of FortiSP5, Fortinet once again sets new industry records for performance, cost, and energy efficiency. As the only cybersecurity vendor leveraging purpose-built ASICs, an over 20-year investment in innovation, Fortinet delivers the secure computing power that will support the next generation of secure infrastructure.”
Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced FortiSP5, the latest breakthrough in ASIC technology from Fortinet, propelling major leaps forward in securing distributed network edges. Building on over 20 years of ASIC investment and innovation from Fortinet, FortiSP5 delivers significant secure computing power advantages over traditional CPU and network ASICs, lower cost and power consumption, the ability to enable new secure infrastructure across branch, campus, 5G, edge compute, operational technologies, and more.
Unparalleled Innovation in Custom Chip Performance
With an application-specific design and embedded multi-core processors to accelerate the convergence of networking and security functions, FortiSP5 delivers:
17x faster firewall performance compared to leading standard CPUs.
3.5x faster next-generation firewall (NGFW) performance compared to leading standard CPUs to handle higher levels of traffic inspection to detect and block threats.
32x faster encryption to protect sensitive data and secure virtual private networks.
2.5 Gbps of SSL deep inspection to deliver the processing power needed to inspect encrypted traffic for malware without performance issues.
Secure boot to allow only approved operating system software to boot up, protecting critical infrastructure against malicious tampering.
Volumetric DDoS protection to thwart distributed denial-of-service (DDoS) attacks.
VXLAN/GRE hardware-accelerated encapsulation to enable secure interconnectivity for distributed networks.
Hardware-accelerated Quality of Service (QoS) to enhance user experience with dedicated QoS for sensitive applications such as videoconferencing.
Significant Cost and Energy Savings
As a fifth-generation 7-nanometer chip, FortiSP5 packs more capabilities in a smaller form factor to deliver:
88% less power consumption compared to the leading industry-standard CPU
Industry-leading performance per watt
Supporting More Applications to Enable Important Customer Use Cases
With the ability to accelerate and concurrently run 2x more applications—for example, NGFW, zero-trust network access (ZTNA), SD-WAN, and SSL inspection—compared to the previous generation, FortiSP5 will support use cases such as:
Branch/Campus: FortiSP5 ensures the transition to SD-Branch is efficient and cost-effective in a small form factor, enabling IT staff to simplify management and reduce OpEx while increasing network uptime. Additionally, as more organizations embrace the cloud and hybrid work model, FortiSP5 will continue to be a driver for Secure SD-WAN to empower customers to securely and seamlessly access applications anywhere while delivering consistent user experience with an optimized platform.
Edge Compute: As edge computing improves efficiency and cost control through processing close to the edge, FortiSP5 supports high-speed networks and security threat protection for both commercial and operational technology (OT) environments, minimizing bottlenecks for traffic movement.
Operational Technology: The convergence of IT and OT has opened the infrastructure to increased security risks that can disrupt operations. FortiSP5 enables scalable convergence, securing both OT and IT infrastructures with a single, high-performance platform.
5G: 5G adoption is on the rise in enterprise networks, fueling innovation at the edge as it provides higher bandwidth and lower latency. FortiSP5 enables a seamless transition to support 5G with an optimized and sustainable platform.
Proven System on a Chip Technology
FortiSP5 will power the next generation of entry and mid-range FortiGate firewalls being released later this year. Now on its fifth generation, we believe Fortinet’s proprietary system on a chip technology has a proven track record of powering the industry’s top-performing products and solutions. A few examples include:
Fortinet has been named a Leader in the 2022 Gartner® Magic Quadrant™ for Network Firewalls,¹ marking the thirteenth time Fortinet has been recognized in this Magic Quadrant.
A latest Forrester study² highlighted that customers deploying Fortinet’s Secure SD-WAN solution, which is backed by FortiGate and SOC technology, achieved a 300% return on investment over 3 years with a payback period of only 8 months.
Fortinet Supports Sustainability Goals
The energy efficiency and performance per watt of FortiSP5 and the products that leverage the chip will help organizations reduce their power and space requirements. Fortinet remains committed to sustainable product innovation to ensure each generation of its products consumes less energy and is built sustainably.
Today, Fortinet’s Sunnyvale headquarters is a net-zero emissions facility and plans for global operations to be completely carbon neutral by 2030. Fortinet was recently named to the 2022 Dow Jones Sustainability World and North America Indices as one of the top sustainable companies in the world, highlighting Fortinet’s commitment to achieving a sustainable society.
“Enterprise applications and the users and devices that access them are more distributed than ever, which is causing organizations to rethink their edge network and security architectures. A key to enabling enterprise edge networking is having strong security without compromising on network performance and user experience. Fortinet has a 20-year history in ASIC technology that helps achieve these goals, and the company’s newest FortiSP5 continues that legacy. Fortinet’s portfolio of converged network and security solutions with custom chips helps enterprises accelerate their edge network and security transformation.”
- Brandon Butler, Research Manager, Enterprise Networks at IDC
¹ Gartner, Magic Quadrant for Network Firewalls, Rajpreet Kaur, Adam Hils, Tom Lintemuth, 19 December 2022.
² “The Total Economic Impact™ Of Fortinet Secure SD-WAN”, a commissioned study conducted by Forrester Consulting on behalf of Fortinet, December 2022.
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 & Advisory 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.
GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
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. 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.
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.
Photos accompanying this announcement are available at:
Fortinet's (FTNT -1.22%) stock jumped nearly 11% on Feb. 8 after the company posted its fourth-quarter earnings report. The cybersecurity company's revenue rose 33% year over year to $1.28 billion but narrowly missed analysts' estimates by $20 million. However, its adjusted earnings rose 76% to $0.44 per share and topped the consensus forecast by a nickel.
Fortinet also posted strong guidance for 2023. It expects its revenue to rise 24% to 28% year over year in the first quarter and grow 21% to 23% for the full year. Both estimates easily surpassed Wall Street's expectations.
That stable outlook suggests that Fortinet is still well insulated from the macro headwinds, but is it too late to buy its stock after its post-earnings pop? Let's take a fresh look at Fortinet's business and valuations to decide.
Back in 2002, Fortinet launched FortiGate, a next-gen firewall that upgraded traditional firewalls with network device filtering tools. It established an early-mover's advantage in that market and now serves about 615,000 customers globally, including most of the Fortune 500. FortiGate subsequently became the foundation of Fortinet's Security Fabric, which provides end-to-end protection tools for on-premise, cloud-based, and Internet of Things devices through a blend of on-site appliances, software, and cloud-based services.
That expansion boosted Fortinet's annual revenue from $1.49 billion in 2017 to $4.42 billion in 2022, which represented a compound annual growth rate (CAGR) of 24%, as its annual adjusted operating margin expanded from 15% to 27%. Its stock has also rallied more than 550% over the past five years as the ETFMG Prime Cyber Security ETF, which holds a basket of top cybersecurity stocks, rose less than 50%.
Unlike many of its other cybersecurity peers, Fortinet is firmly profitable by both generally accepted accounting principles (GAAP) and non-GAAP (adjusted) metrics. On a non-GAAP basis, its net income increased at a CAGR of 39% from $185 million in 2017 to $962 million in 2022.
Fortinet believes it can generate $10 billion in billings in 2025, which implies a CAGR of 21% from its $5.59 billion in billings in 2022. That forecast implies its top-line growth will barely slow down over the next three years.
During its fourth-quarter conference call, CFO Keith Jensen attributed the company's stable outlook to the "convergence and consolidation" of "network firewalls, Secure SD-WAN, 5G and OT security" into its "single operating system." Jensen also noted that Fortinet's development of its own ASIC chips, which are customized for its own hardware and operating system, gave it an edge against other cybersecurity appliance companies that used third-party chips.
Unlike many other tech companies, Fortinet didn't fret over macroeconomic headwinds at all during its latest conference call. Instead, Jensen said that even though Fortinet faced a "challenging global supply chain environment" during the year, its product revenue still rose 42% and represented its "highest annual product revenue growth rate in over 10 years."
Fortinet expects its adjusted operating margin to dip slightly to 25% to 26% in 2023 as it ramps up its investments in its cloud services, data centers, and facilities, but it still expects its adjusted earnings per share to rise 17% to 18%.
Fortinet is also swimming in cash. Its free cash flow rose 21% to $1.45 billion in 2022, and it spent more than 100% of that total ($1.99 billion) on buybacks. It repurchased its shares at an average price of $55.37 -- a discount of about 9% to its stock price as of this writing -- and reduced its outstanding shares by 4% throughout the year.
Fortinet's stock isn't cheap at 51 times forward earnings, but I believe its rock-solid growth rates justify that higher valuation. It's also fairly valued relative to its industry peers. For example, Palo Alto Networks -- which provides similar services and is growing at a comparable rate -- trades at 49 times forward earnings.
I believe Fortinet's glowing track record and crystal-clear road map make it a great long-term play on the growing cybersecurity sector. If it generates $10 billion in billings by 2025 -- which certainly seems achievable at this rate -- its stock could easily double in less than three years. Therefore, it's certainly not too late to add this high-quality stock to your portfolio.
Leo Sun has positions in Palo Alto Networks. The Motley Fool has positions in and recommends Fortinet and Palo Alto Networks. The Motley Fool has a disclosure policy.
SUNNYVALE, Calif. – Derek Manky, Chief Security Strategist and VP of Global Threat Intelligence at FortiGuard Labs: “Disrupting global cybercriminal organizations requires a global effort with strong, trusted relationships and collaboration across public and private organizations and industries. It is part of Fortinet’s mission to secure people, devices, and data everywhere, and Fortinet is proud to be one of the founding members of the World Economic Forum Centre for Cybersecurity and an active contributor as part of its Partnership against Cybercrime (PAC). The Cybercrime Atlas initiative is about driving real impact and is a coordinated effort to create a chain of disruption in the world of cybercrime. We are excited to continue our work with private and public sector leaders to help make our digital world a safer place.”
Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the launch of the Cybercrime Atlas, a joint initiative launched this month in Davos at the organization’s Annual Meeting by the World Economic Forum (WEF) with the support of Banco Santander, Fortinet, Microsoft, and PayPal. The Cybercrime Atlas – currently hosted by the Forum – will aid industry, law enforcement, and government agencies by providing a first-of-its-kind visibility to disrupt cybercriminals across their ecosystem and infrastructure to track and help take down cybercriminals and their infrastructure around the world.
Global Leaders Collaborating to Build a Chain of Disruption
Cybercrime impacts everyone from individuals to global corporations and critical infrastructures and governments. It causes immense, though not always visible, damage to economies and societies. The Cybercrime Atlas was first conceptualized by the Forum’s PAC community, which includes over 40 private and public sector members.
The Cybercrime Atlas is a collaborative effort to build an action-orientated, global knowledge-base of the cybercriminal landscape to enable mitigation and disruption of cybercrime. Building on the expertise of the Forum’s PAC, the Cybercrime Atlas initiative will provide a platform for leading cybercrime investigators, national and international law enforcement agencies, and global businesses to share knowledge, generate policy recommendations and identify opportunities for coordinated action to fight cyberthreats.
The Cybercrime Atlas aims to build a comprehensive picture of the cybercrime landscape that covers criminal operations, shared infrastructure, and networks. The links between the information gathered about threat actors will help the security industry more effectively disrupt the cybercriminal ecosystem, more efficiently allocate resources in the fight against them, and make their unlawful efforts more cost prohibitive.
Since 2H 2021, the Cybercrime Atlas has benefited from a year of analysis into 13 criminal groups by specialized analysts and cybercrime investigators, using only publicly available information. The accumulated knowledge from the Cybercrime Atlas efforts will ultimately help to identify and disrupt the cybercrime ecosystem. The analysis will shed light on cybercriminal artifacts to aid industry, law enforcement, and government agencies to create a chain of disruption. The approach and initial findings of the group have been welcomed by law enforcement agencies. The uncovering of these non-traditional artificats will help aid in the capture and successfull prosecution of cybercrime gang members.
Fortinet’s Continued Commitment to Disrupting Global Cybercrime
Fortinet’s FortiGuard Labs’ leadership in the threat intelligence community over the last decade has helped take the fight to adversaries and Excellerate protections for customers, partners, and governments around the world. By sharing threat intelligence and working with other threat intelligence organizations, it helps Excellerate protections for customers and enhances the effectiveness of the entire cybersecurity industry.
FortiGuard Labs is committed to partnership and cooperation with global law enforcement, government organizations, and industry organizations. In addition to the work with WEF Centre for Cybersecurity and being a contributor to PAC, Fortinet also invests meaningful resources in further global partnerships, including the MITRE Engenuity Center for Threat Informed Defense (CTID). Fortinet is also a long-standing member of the NATO Industry Cyber Partnership (NICP), are active contributors and members of INTERPOL Gateway, is a founding member of the Cyber Threat Alliance (CTA), and more.
“Given the global nature of cyberthreats, increasingly public-private collaboration is the best way to combat cybercrime. Organizations must look beyond their perimeter and combine efforts and resources with businesses, law enforcement and government.”
-- Dirk Marzluf, Group Chief Operating and Technology Officer, Banco Santander
“This initiative underlines the need for an enhanced multi-sector approach to combat the increasing cybercrime threat. A global solution must include private sector insights to enable law enforcement to prevent, detect, investigate and disrupt cybercrime.”
-- Jürgen Stock, Secretary-General, International Criminal Police Organization (INTERPOL)
“Cybercriminals work in the shadows and exploit vulnerabilities to inflict devastating attacks. The Cybercrime Atlas provides an important forum that brings the public and private sectors together to share actionable information and leverage cross-sector data, capabilities and expertise, crucial to disrupting cybercrime quickly, and at scale.”
-- Brad Smith, Vice-Chair and President, Microsoft
“The Cybercrime Atlas is a collaborative research initiative that gathers and collates information about the cybercriminal ecosystem and major threat actors operating today. The insights generated will help promote opportunities for greater cooperation between the private sector and law enforcement to address cybercrime.”
-- Jeremy Jurgens, Managing Director, World Economic Forum
Fortinet (NASDAQ: FTNT) makes possible a digital world that we can always trust through its mission to protect people, devices, and data everywhere. This is why the world’s largest enterprises, service providers, and government organizations choose Fortinet to securely accelerate their digital journey. The Fortinet Security Fabric platform delivers broad, integrated, and automated protections across the entire digital attack surface, securing critical devices, data, applications, and connections from the data center to the cloud to the home office. Ranking #1 in the most security appliances shipped worldwide, more than 615,000 customers trust Fortinet to protect their businesses. And the Fortinet NSE Training Institute, an initiative of Fortinet’s Training Advancement Agenda (TAA), provides one of the largest and broadest training programs in the industry to make cyber training and new career opportunities available to everyone. Learn more at https://www.fortinet.com, the Fortinet Blog, or FortiGuard Labs.
About FortiGuard Labs
FortiGuard Labs is the threat intelligence and research organization at Fortinet. Its mission is to provide Fortinet customers with the industry’s best threat intelligence designed to protect them from malicious activity and sophisticated cyberattacks. It is composed of some of the industry’s most knowledgeable threat hunters, researchers, analysts, engineers, and data scientists in the industry, working in dedicated threat research labs all around the world. FortiGuard Labs continuously monitors the worldwide attack surface using millions of network sensors and hundreds of intelligence-sharing partners. It analyzes and processes this information using AI and other innovative technology to mine that data for new threats. These efforts result in timely, actionable threat intelligence in the form of Fortinet security product updates, proactive threat research to help our customers better understand the threats and actors they face, and threat intelligence to help our customers better understand and defend their threat landscape. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.
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, FortiCore, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAP, FortiAppEngine, FortiAppMonitor, FortiAuthenticator, FortiBalancer, FortiBIOS, FortiBridge, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCenter, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCNP, FortiDB, FortiDDoS, FortiDeceptor, FortiDirector, FortiDNS, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLocator, FortiLog, FortiMeter, FortiMoM, FortiMonitor, FortiNAC, FortiPartner, FortiPenTest, FortiPhish, FortiPortal, FortiPresence , FortiProtect, FortiProxy, FortiRecorder, FortiReporter, FortiSASE, FortiScan, FortiSDNConnector, FortiSIEM, FortiSDWAN, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiVoIP, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLCOS and FortiWLM.
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 news release may contain forward-looking statements that involve uncertainties and assumptions, such as statements regarding technology releases among others. Changes of circumstances, product release delays, or other risks as stated in our filings with the Securities and Exchange Commission, located at www.sec.gov, may cause results to differ materially from those expressed or implied in this press release. 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. Fortinet assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to update these forward-looking statements.
Major global brands, including McDonald's Corp, PepsiCo Inc. and the Estee Lauder Cos Inc. should consider pausing their operations in Russia, New York state's pension fund chief wrote in letters to several companies on Friday.
Top senators on the Senate Intelligence Committee introduced bipartisan legislation Thursday that seeks to sanction any nation involved in ransomware attacks against the U.S.