Sunnyvale, Calif.-based Fortinet has signed a definitive agreement to acquire privately held enterprise application delivery company Coyote Point Systems, the companies announced Friday.

Financial terms were not disclosed. However, Fortinet, which specializes in high-performance network security, explained that the acquisition will "generate synergy among existing Fortinet products, including our FortiGate, FortiBalancer, FortiDDoS, and FortiWeb platforms." Fortinet added in a statement that it doesn't expect the acquisition to be material to its Q1 operating results.

That may change in future quarters. Fortinet said that while there will be "no immediate changes ... made to Coyote Point product offerings ... future products and solution offerings will be announced upon their availability."


Investors seemed to react negatively to the lack of specifics, however. Fortinet shares traded down 1.1% on Friday to close at $23.03. 

The article Fortinet Buying Coyote Point originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Investor’s Toolbox

Improve your investing savvy with the right financial toolset.

View Course »

Small Cap Investing

Learn now to invest in small companies the right way.

View Course »

Add a Comment

*0 / 3000 Character Maximum