Fortinet Acquires Panopta; MSSP Partners Gain Cybersecurity Network Monitoring

Fortinet has acquired Panopta, a SaaS platform and network monitoring specialist that provides multi-tenant capabilities for MSSP and MSP partners. Financial terms of the deal were not disclosed.

Panopta’s cloud-based software provides “full stack visibility” and automated management of the health of an enterprise network, including servers, network devices, containers, applications, databases, virtual appliances, and cloud infrastructure, the buyer says.

This is M&A deal 512 that MSSP Alert and sister site ChannelE2E have covered so far in 2020. See the full M&A deal list here.

Panopta raised funding from Five Elms Capital in November 2018, but the the actual funding figure was not disclosed at that time.

Fortinet Acquires Panopta: MSSP Security Monitoring Implications

Panopta’s platform supports multi-tenant users — particularly MSSPs and MSPs, and is also ideal for network operations center (NOC) and security operations center (SOC) teams, Fortinet says.

So what can partners and customers expect from the M&A deal? Integrations across the Fortinet and Panopta product lines, according to Fortinet, will support:

  • Unified Monitoring and automated Incident Management that reduces response and resolution times for NOC teams and, in turn, helps exceed SLAs.
  • Over 50 global points of presence (PoPS) with low-cost probes to simulate application performance and latency that may impact end user experience (also known as synthetic transaction monitoring).
  • Cloud native monitoring for Kubernetes and PaaS workloads in AWS and Azure.
  • Fully configurable alerting workflows with out-of-the-box integrations for third-party enterprise and modern communication tools.
  • Another first-class partner-friendly service offering that remains true to Fortinet’s ongoing commitment to its valued partners.

Fortinet Acquires Panopta: Executive Perspectives

Ken Xie, CEO, Fortinet

In a prepared statement about the deal, Fortinet Founder and CEO Ken Xie said:

“Given the complex and distributed nature of many IT environments, organizations need a high performance, secure network to successfully achieve their digital business initiatives. With the convergence of security and networking through a Security-driven Network approach organizations can get the connectivity and performance that is crucial to protect today’s hyper-connected businesses. Fortinet’s acquisition of Panopta complements our best-in-class security offerings with a SaaS platform that provides further network visibility and agile remediation for hybrid environments, including edge and cloud networks, to achieve even greater security and business efficiency.”

The acquisition surfaces as Fortinet continues to accelerate its MSSP- and service provider-driven revenues. The company also is gaining  channel partner momentum in the SMB (small and midsize business) market, Xie said in an October 2020 earnings call.

Fortinet: Noteworthy Acquisitions & MSSP Implications

Fortinet has remained active in the M&A market. Acquisitions over the past year or so include:

  • July 2020: Opaq Networks, a Secure Access Service Edge (SASE) cloud provider that promotes Zero Trust Network Access (ZTNA) cloud solutions to MSSPs.
  • December 2019: CyberSponse, a security orchestration, automation & response (SOAR) platform.
  • October 2019: The EnSilo endpoint detection & response (EDR) security business. MSSPs gained enhanced MDR (managed detection & response) capabilities.

 

 

 

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