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Fortinet Denies Acquisition Discussions with IBM

After Bloomberg published an article this morning saying that Fortinet Inc. was in acquisition discussions with IBM, Fortinet responded with a formal statement denying the report.

Late Monday afternoon Fortinet issued the following statement:

In a recent article, Bloomberg News cited sources incorrectly indicating that Fortinet is in acquisition discussions with IBM. Fortinet's policy is not to comment on rumors, and Fortinet declined to respond to rumors 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. Fortinet had requested that Bloomberg retract or correct the story.

Fortinet disclaims any obligation to comment on rumors or to correct any false or misleading rumors or press, or to update statements made herein. Any decision by Fortinet to not comment on rumors or press should not be interpreted to mean that such rumors or press are in fact accurate.

The Bloomberg article also said that, according to sources (who asked to remain unnamed), Fortinet is working with Morgan Stanley and exploring its strategic options.

Shares of Fortinet (NASDAQ: FTNT) closed at $31.88, up 6.27 percent.

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