Cybersecurity Companies You Should Watch In 2022
Fortinet purchased cloud and network security startup ShieldX for $10.8 million to give customers a more comprehensive view of end users, workstations and OT devices. The company in 2021 debuted FortiOS 7.0 to deliver consistent security for all networks, endpoints and clouds via SASE and zero-trust network access.
The Sunnyvale, Calif.-based platform security vendor also introduced its FortiTrust security services to provide user-based licensing across networks, endpoints and cloud, with a focus on zero-trust network access and identity verification. Wall Street has rewarded Fortinet for its investments, sending the company’s stock price up 119 percent over 2021 to $314 per share on a valuation of $51.34 billion.
The company expects to ride its product innovation to 29 percent annual sales growth in 2021, with revenue surging to an estimated $3.34 billion. Fortinet has also increased its head count by 17 percent over the past year to 9,569 people, with the most aggressive hiring occurring in the sales and IT departments.