UPDATE 1-Fortinet files for $100 mln IPO

Mon Aug 10, 2009 8:32am EDT

Aug 10 (Reuters) - Network security provider Fortinet Inc filed with U.S. regulators on Monday to raise up to $100 million in an initial public offering of common stock.

The Sunnyvale, California-based company told the U.S Securities and Exchange Commission in a preliminary prospectus that Morgan Stanley & Co, J.P. Morgan Securities and Deutsche Bank Securities were underwriting the IPO, along with several other underwriters.

For 2008, Fortinet earned $7.4 million on revenue of $211.8 million.

The filing did not reveal how many shares the company planned to sell, their expected price or the intended listing symbol. (Reporting by Sayantani Ghosh in Bangalore; Editing by Aradhana Aravindan)

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