What can a CFO do about an economic crisis? "Don't waste it," says finance veteran Ken Goldman.
Tim Reason, CFO.com | US
March 31, 2009
Let's see here. Fortinet raised over $100 million dollars over 5 rounds. That's huge cram-down. The firewall market has become a tired commodity play with no big networking companies looking to add a UTM box. If an acquisition does occur it will be for FNet's customer base which actually may not bring much newness to the fold. Chances are most of their customers already have most big name player's switchgear in-place. After all the time and money the investors cannot be happy. Market stinks. Nobody is spending. Their new CFO guy was a tactical move to minimize their losses and get things into shape to dump them. $200 million in revs with $10 million to show for their efforts...lots of overhead and poor future prospects...which is where a cfo-type really earns their salary.
Posted by Scott Smith | May 10, 2009 12:46 pm© CFO Publishing Corporation 2009. All rights reserved.