SOURCE: Fortinet

Fortinet

August 26, 2014 09:00 ET

Fortinet Sets Up Research & Development Center in Singapore

Extends Leading Network Security Vendor's Innovation Efforts to Protect Enterprises Amid an Environment of Escalating Cyber Threats

SUNNYVALE, CA--(Marketwired - Aug 26, 2014) - Fortinet® (NASDAQ: FTNT) -- a global leader in high-performance network security -- today announced that it plans to establish a regional centre in Singapore this year to conduct network security research and development, and help extend its innovation lead in the marketplace to better protect enterprises and service providers amidst escalating cyber security threats. Along with the setting up of this R&D facility, Fortinet intends to leverage local high-quality talent to boost its regional technical support, marketing, finance and legal employee base in Singapore.

To be located in Fortinet's Asia Pacific headquarters at Beach Road, this centre will house security research and development professionals to extend collaboration on threat intelligence and provide emergency threat response to customers. The facility will complement and extend Fortinet's existing R&D centers, including FortiGuard Labs, primarily located in the US and Canada. The company also expects those additional resources to help support Fortinet's growth. The company increased its billings by 33 percent year-over-year in Q2 2014 and is recognized as the no. 2 network security appliances vendor by factory revenue market share in Asia Pacific, according to data from IDC's quarterly network security appliances tracker.

"The Singapore government's vision to make the republic a cybersecurity business and research hub drew us to set up an R&D base here," said Michael Xie, Fortinet's Founder, President and CTO. "The abundance of well-trained IT professionals here gives us ready access to a deep talent pool, while the country's strong cybersecurity ecosystem and regional hub status gives us synergy and immediate connectivity to fast growing Asia Pacific markets."

EDB encourages firms to use Singapore as a base for conducting headquarters management activities to oversee, manage and control their global and regional operations. Through its program, EDB aims to increase the breadth, depth and diversity of Singapore's economic activity. Fortinet is taking advantage of EDB's support to boost its presence in Singapore through the establishment of its R&D center.

Mr. Kiren Kumar, Director of the Infocomms and Media Division at the Singapore Economic Development Board, said: "We warmly welcome Fortinet's decision to establish its network security R&D Centre in Singapore. Fortinet is a well respected innovator and worldwide leader in network security, and its decision to invest in its presence in Singapore offers strong validation of Singapore's growing position as a regional hub for cybersecurity solutions in Asia Pacific. Cybersecurity companies like Fortinet can leverage Singapore's strong connectivity to regional markets and access to a diverse talent pool to develop new capabilities that help their customers navigate a rapidly evolving cyber threat landscape."

About Fortinet
Fortinet (NASDAQ: FTNT) helps protect networks, users and data from continually evolving threats. As a global leader in high-performance network security, we enable businesses and governments to consolidate and integrate stand-alone technologies without suffering performance penalties. Unlike costly, inflexible and low-performance alternatives, Fortinet solutions empower customers to embrace new technologies and business opportunities while protecting essential systems and content. Learn more at www.fortinet.com.

Copyright © 2014 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and unregistered trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet's trademarks include, but are not limited to, the following: Fortinet, FortiGate, FortiGuard, FortiManager, FortiMail, FortiClient, FortiCare, FortiAnalyzer, FortiReporter, FortiOS, FortiASIC, FortiWiFi, FortiSwitch, FortiVoIP, FortiBIOS, FortiLog, FortiResponse, FortiCarrier, FortiScan, FortiAP, FortiDB, FortiVoice and FortiWeb. 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, binding specification or other binding commitment by Fortinet, Fortinet reserves the right to, and may, change its plans at any time without notice in its sole and absolute discretion, and performance and other specification information herein may be unique to certain environments. This news release contains forward-looking statements that involve uncertainties and assumptions, such as statements regarding Fortinet's intentions related to its current and future activities in Singapore. Changes of circumstances, a change of plans in Fortinet's sole and absolute discretion, 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.

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