Fortinet denies IBM talks

Network security vendor Fortinet has moved quickly to counter stories that appeared yesterday suggesting that the $2bn firm was close to being acquired by IBM. In a statement issued on Monday afternoon, the UTM solutions provider said that the original report, which appeared on Bloomberg, was in

Network security vendor Fortinet has moved quickly to counter stories that appeared yesterday suggesting that the $2bn firm was close to being acquired by IBM.

In a statement issued on Monday afternoon, the UTM solutions provider said that the original report, which appeared on Bloomberg, was inaccurate.

"Fortinet's policy is not to comment on rumours, and Fortinet declined to respond to rumours on this subject. Nevertheless, Fortinet believes that investors need to be aware of the error and today announced that it is focused on building a strong independent company and is not in acquisition discussions with IBM," it said.

The original report cited two unnamed sources "with knowledge of the situation" who said Big Blue had first approached it in September.

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