Fortinet Buys Woven Systems Assets
Fortinet Inc., a Sunnyvale, Calif.-based network security provider, has acquired certain assets and IP of Woven Systems, a Santa Clara, Calif.-based developer of 10 gigabit Ethernet fabric solutions. No financial terms were disclosed. Fortinet is in registration for a $100 million IPO, and has raised around $83 million in VC funding since 2002, from firms like Redpoint Ventures (15.5%) and Meritech Capital Partners (10.9%), Acorn Campus Ventures, DCM, Defta Partners and WI Harper Group. Woven Systems raised $35 million from Mohr Davidow Ventures , Goldman Sachs and Palomar Ventures.
20 August 2009•2 mins read
