Fortinet acquires Next DLP to enhance data protection capabilities

Fortinet has announced the acquisition of Next DLP, a company known for its insider risk and data protection solutions. This strategic move is set to bolster Fortinet's position in the enterprise data loss prevention (DLP) market, both as a standalone solution and integrated with Secure Access Service Edge (SASE) and endpoint deployments.

Ken Xie, Founder, Chairman of the Board, and Chief Executive Officer of Fortinet, expressed confidence in the acquisition's impact on the company's offerings. "The acquisition of Next DLP supports our goal of steadily and strategically enhancing our solutions to continue protecting enterprises with the top security solutions on the market," he said.

"Next DLP will significantly strengthen our data loss prevention capabilities, helping customers manage insider risk across SASE and endpoint deployments," said Xie.

Next DLP, noted for its technology innovation, was recently named a Representative Vendor in the 2023 Gartner Market Guide for Data Loss Prevention and the 2023 Gartner Market Guide for Insider Risk Management Solutions. The company offers a cloud-native SaaS data protection platform that extends from endpoint to cloud.

Connie Stack, Chief Executive Officer of Next DLP, commented on the company's focus and the potential benefits of the new acquisition. "Innovating data security has been our sole focus since day one.

"By prioritising the protection of our customers, we have developed leading solutions for insider risk and data protection," Stack said.

"Data security and protection against insider threats are top priorities for enterprises, and integrating Next DLP with Fortinet will extend the reach of our leading data security solutions to organisations worldwide," she said.

According to a joint statement, the acquisition is expected to leverage Next DLP's technology to enhance Fortinet's Security Fabric, particularly in their Security Service Edge (SSE) offering. This integration aims to provide Fortinet's customers with advanced data loss prevention capabilities, addressing a critical need in today's cybersecurity landscape.

Fredrik Halvorsen of Ubon Partners, the majority shareholder of Next DLP, expressed optimism about the future of the combined technologies. "We see tremendous potential in combining Next DLP's innovative technology with Fortinet's market leadership. This acquisition recognises the technical excellence of Next DLP's team and provides a great platform for their further growth and success," said Halvorsen.

The transaction has been finalised, with the deal signed and closed on 5 August 2024. This integration is expected to fortify Fortinet's commitment to providing top-tier security solutions as part of its Unified SASE approach.