US cybersecurity company Fortinet has announced its acquisition of data security company Next DLP to strengthen Fortinet’s existing offerings in standalone and integrated data loss prevention.
Fortinet plans to integrate Next DLP’s cloud-native software-as-a-service (SaaS) data protection platform, its AI anomaly detection and classification capabilities with its current infrastructure.
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Ken Xie, Founder, chairman of the board, and CEO at Fortinet said: “The acquisition of Next DLP supports our goal of steadily and strategically enhancing our solutions to continue protecting enterprises with the top security solutions on the market.
“Next DLP will significantly strengthen our data loss prevention capabilities, helping customers manage insider risk across SASE and endpoint deployments.”
The global cybersecurity organisation combines both networking and security functions and has the largest integrated portfolio of over 50 enterprise-grade products with over half a million customers.
Research and analysis company GlobalData released a Q2 scorecard ‘Enterprise Security Software Sector 2024’ which ranked Fortinet third out of 46 companies in a competitive landscape analysis.
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By GlobalDataThe report also noted that stronger regulatory focus on cybersecurity mergers & acquisitions is needed, predicting that: “Regulators will increase their focus on cybersecurity M&A, especially deals involving [private equity] firms.”
The report mentions Thoma Bravo’s purchase of Darktrace which did not attract regulatory scrutiny at the time. GlobalData analysts believe regulators are missing the opportunity to dig deeper into this area of M&A.
Amongst other cybersecurity companies in GlobalData’s scorecard ranking was CrowdStrike, the organisation behind the recent global Microsoft meltdown.
The recent outage highlights the importance of robust cyber controls and continuous operation as well as the need for impenetrable data security.
Next DLP has a wealth of experience in the data security space and has previously been recognised by industry analysts for its technology innovations.
Connie Stack, CEO at Next DLP said: “Data security and protection against insider threats are top priorities for enterprises, and integrating Next DLP with Fortinet will extend the reach of our leading data security solutions to organisations worldwide.
“Innovating data security has been our sole focus since day one. By prioritizing the protection of our customers, we have developed leading solutions for insider risk and data protection.”
The company delivers a cloud-native SaaS data protection platform that extends from endpoint to cloud and its acquisition signals Fortinet’s commitment to offering enterprises a top-tier Unified SASE solution.
The deal has been signed and closed as of August 5, 2024.
