Network security company Fortinet (FTNT) announced on Tuesday the acquisition of AccelOps, a Santa Clara, CA-based firm that specializes in network security monitoring and performance analytics solutions.
The acquisition is complete and effective immediately. A SEC filing shows that Fortinet has paid $28 million in cash for AccelOps and it’s prepared to pay up to another $4 million depending on future performance.
According to Fortinet, AccelOps solutions will become FortiSIEM and will be part of the company’s new security fabric architecture, which integrates endpoint, network, access layer, application, content, cloud, and data center security technologies into a single solution managed through a single interface.
Fortinet will rely on AccelOps’ next generation SIEM capabilities to strengthen and improve its position on the SIEM market, which is currently estimated at $2 billion.
The security operations center (SOC) and network operations center (NOC) capabilities from AccelOps will be added to Fortinet’s offering for Managed Security Service Providers (MSSPs) and will power Fortinet Support Services, including a new service that provides automated security and performance audits to help organizations prevent disruptions.
“Sixty-percent of all security breaches result in stolen data starting within minutes of the breach and go undetected due to ineffective threat monitoring and security event correlation. In addition, the lack of a holistic view across organizations’ entire distributed, multi-vendor networks and the growing quantity and complexity of threat information create big-data security challenges,” said Ken Xie, founder and CEO of Fortinet. “With the acquisition of AccelOps, Fortinet extends its Security Fabric to address these challenges by combining security and compliance monitoring with advanced analytics for multi-vendor security solutions, enabling automated and actionable security intelligence from IoT to the cloud.”
According to Fortinet, AccelOps has hundreds of customers in the enterprise, government and MSP sectors.