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Meru acquisition takes Fortinet across the billion dollar mark

Meru acquisition takes Fortinet across the billion dollar mark

Total revenue jumped to $US1.01 billion

Cyber security vendor, Fortinet, has cracked the billion dollar mark in revenue and billings as it revealed its 2015 financial results.

Total revenue jumped 31 per cent to $US1.01 billion compared to $US770.4 million in 2014.

The total revenue figure also included its acquisition of Meru Networks from July 8 to December 31. Excluding Meru, revenue was $US981.2 million, up 27 per cent on 2014. Fortinet purchased Meru for $US44 million in cash last year.

Total billings were $US1.23 billion for 2015, an increase of 37 per cent compared to $US896.5 million in 2014. This also included Meru, which contributed $US32.8 million.

“Very few companies have achieved this type of growth at Fortinet’s scale and it is due to our strong technology advantage and early returns on our customer acquisition and expansion strategy,” Fortinet founder, chairman and CEO, Ken Xie, said in statement. “With cyber security remaining at the forefront of enterprise IT priorities, Fortinet is well-positioned to grow and gain global market share in 2016 and beyond.”

Fortinet senior director A/NZ and South Pacific, Jon McGettigan, said locally, the vendor experienced persistent growth across the region.

“Sales, revenues, and client numbers have all increased in line with global numbers. Indeed, our A/NZ headcount has doubled within the last year,” he said.



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