Fortinet plans IPO

Fortinet, maker of unified threat management solutions, on Monday announced plans to go public. The Sunnyvale, Calif. company plans an initial public offering (IPO) of up to $100 million in common stock, according to a filing with the U.S. Securities and Exchange Commission. Many firms have steered clear of IPOs in recent months, but with the stock market again climbing, that may change, experts said. ArcSight was the last major security company to file for public status. — DK