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Fortinet acquires IPLocks Assets

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Fortinet, a pioneer and global provider of unified threat management (UTM) solutions, has acquired IPLocks’ database security products and technologies as part of a strategy to broaden Fortinet’s network security portfolio.

Specifically, Fortinet has purchased IPLocks’ vulnerability assessment tool, source code and related physical assets, as well as a broad license to IPLocks’ database monitoring and auditing tools. The financial terms of the deal are confidential.
IPLocks is a privately-held company that provides database security and compliance solutions to help guard against common database attacks, monitor database usage, alert on suspicious activities and identify fraudulent or malicious events. The tools assist enterprises in protecting internal data as well as meeting regulatory compliance requirements, such as Payment Card Industry Data Security (PCI DSS) and Sarbanes-Oxley (SOX), and data privacy laws.
Ideally suited for corporations with highly-sensitive data security requirements, customers of IPLocks solutions include large banks, insurance companies, audit firms and e-commerce organisations.
“In acquiring IPLocks’ database security tools, Fortinet has enriched its security product portfolio to address a growing need to protect database applications, which are becoming a target of internal and external attack by cyber criminals looking to harvest personal and confidential data for financial gain,” says Perry Hutton, Fortinet manager for Sub-Sahara Africa.
“At the same time, enterprises are increasingly using database applications to house sensitive data and are looking for ways to do so safely and within compliance. The confluence of these factors presents an emerging market and a new revenue opportunity for Fortinet to expand its network security business.”
Forrester Research estimates the value of the database auditing and real-time protection market at approximately $450 million and expects it to double by 2010 as enterprises look to automate and secure even more of their enterprise databases.
“A continued rise in high-profile data security breaches has highlighted the significant financial, operational and reputational damage that can be inflicted on an improperly protected enterprise,” says Ken Xie, founder, president and CEO of Fortinet.
“As we continue to innovate solutions for securing networks and applications, we believe the IPLocks acquisition will bring an even greater benefit to our customers by hardening the protection of their databases for a security approach that penetrates more deeply into the network – to the application level. By enriching our product portfolio through this acquisition, we can offer customers this broader level of protection quickly and efficiently.”