"Since September 11, venture firms have pumped lots of capital into security technologies. Those investments have produced promising IPO candidates, such as Fortinet, CipherTrust, and ArcSight. Sunnyvale (Calif.)-based Fortinet, which aims to turn profitable in the third quarter, would like to go public later this year at a valuation of $750 million to $900 million, or five to six times its projected 2006 revenues, says Chief Financial Officer Harold Covert."
[Business Week]
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