Fortinet buys assets from Ethernet co. Woven

Network security company Fortinet has acquired fabric Ethernet provider Woven Systems to boost the efficiency and speed of its offerings, reports PE Hub. Santa Clara, Calif.-based Woven’s claim to fame is that it makes some of the smallest and densest 10-gigabit network switches in the world, competing with Force10 Networks and even Cisco Systems. This switching power will help Fortinet scale its own security provisions, the Sunnyvale, Calif., company says.

Woven Systems raised $35 million in venture funding from Mohr Davidow Ventures, Goldman Sachs and Palomar Ventures. Fortinet, on the other hand, has filed for a $100 million public offering after raising $83 million in capital from Redpoint Ventures, Meritech Capital Partners, Acorn Campus Ventures, DCM, Defta Partners and WI Harper Group.

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