Investment Summary

Windspeed Ventures and Updata Partners Exits Bradford Networks

On June 4, 2018, Fortinet invested in information technology company Bradford Networks from Windspeed Ventures and Updata Partners

Investment Highlights
  • This is Fortinet’s 3rd transaction in the Information Technology sector.
  • This is Fortinet’s 8th transaction in the United States.
  • This is Fortinet’s 1st transaction in Massachusetts.

Investment Summary

Date 2018-06-04
Target Bradford Networks
Sector Information Technology
Investor(s) Fortinet
Sellers(s) Windspeed Ventures
Updata Partners
Deal Type Add-on Acquisition

Target

Bradford Networks

Cambridge, Massachusetts, United States
Bradford Networks, Inc. is a provider of network access control software to give IT departments greater visibility, control and response to security threats. Bradford Networks, Inc. was founded in 1999 and is based in Cambridge, Massachusetts.

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Investor(S) 1

Investor

Fortinet

Sunnyvale, California, United States

Category Company
Founded 2000
Sector Information Technology
Employees13,522
Revenue 6.0B USD (2024)
DESCRIPTION
Entrance to Fortinet's corporate headquarters in Sunnyvale, California.
Entrance to Fortinet's corporate headquarters in Sunnyvale, California.

Fortinet provides network security appliances and unified threat management network security solutions. Fortinet was founded in 2000 and is based in Sunnyvale, California.


DEAL STATS #
Overall 9 of 14
Sector: Information Technology M&A 3 of 5
Type: Add-on Acquisition M&A Deals 9 of 14
State: Massachusetts M&A 1 of 2
Country: United States M&A 8 of 13
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-07 AccelOps

Santa Clara, California, United States

AccelOps, Inc. is a provider of network security monitoring and analytics solutions. AccelOps has fundamentally changed the way organizations identify, prevent and manage threats, unifying network security monitoring and network performance analytics by providing unprecedented insight into the network.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-12 CyberSponse

Arlington, Virginia, United States

CyberSponse, Inc. offers patented security orchestration & automation response (SOAR) solution that bridges the gap between automation only & human dependent security organizations. The company creates proven value & ROI by providing a significant increase in efficiency & accuracy over traditionally manual analysis. The CyOPs™ SOAR platform enables analysts to efficiently evaluate threats by automating data from hundreds of enterprise security tools. CyberSponse was formed in 2011 and is based in Arlington, Virginia.

Buy -

Seller(S) 2

SELLER

Windspeed Ventures

Bedford, Massachusetts, United States

Investor Investor Investor


Category Venture Capital Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

Windspeed Ventures is a private investment firm focused on early stage growth capital investments in newly formed high technology businesses. The Firm targets opportunities high technology, communications, security, media, and internet services. Prospective companies are generally just beginning to see revenue. Windspeed prefers businesses located in the Northeast US, but on occasion will consider investing in companies located elsewhere. Windspeed Ventures was formed in 1999 and is based in Lexington, Massachusetts.


DEAL STATS #
Overall 9 of 9
Sector: Information Technology M&A 3 of 3
Type: Add-on Acquisition M&A Deals 6 of 6
State: Massachusetts M&A 1 of 1
Country: United States M&A 8 of 8
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-27 The Active Network

San Diego, California, United States

The Active Network, Inc. is a provider of cloud-based activity and participant management solutions serving a wide range of customer groups including business solutions, community activities, the public sector and outdoors and sports. The Active Network provides applications that form an online network connecting a fragmented and diverse group of activity and event organizers with a large base of potential participants. The Company's technology platform helps organizers manage their activities and events by automating online registrations and streamlining other critical management functions. The Active Network, Inc. was formed in 1998 and is based in San Diego, California.

Sell -
SELLER

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $150 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


DEAL STATS #
Overall 36 of 46
Sector: Information Technology M&A 6 of 9
Type: Add-on Acquisition M&A Deals 26 of 33
State: Massachusetts M&A 5 of 6
Country: United States M&A 35 of 42
Year: 2018 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-24 Uberflip

Toronto, Ontario, Canada

Uberflip is a cloud-based content experience platform that empowers B2B marketers to create personalized content experiences at scale. By providing marketers with the tools they need to boost engagement, generate leads, and fuel demand generation, they can better leverage content to meet their goals. Uberflip was founded in 2012 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-19 July Systems

New York, New York, United States

July Systems, Inc. is a mobile application platform provider to businesses worldwide. Mi Platform, a cloud-based mobile platform, allows companies to build, manage, market and monetize rich mobile applications quickly and effectively. Over 100 of the world’s largest brands use Mi™ Platform to deliver billions of transactions to over 100 million users globally. July Systems has offices in New York, Los Angeles, and Bangalore.

Sell -