Davis Polk & Wardwell LLP advised Morgan Stanley & Co. Incorporated, J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. as representatives of the several underwriters on the $156 million initial public offering of 12,500,000 shares of Fortinet, Inc. Of those shares, Fortinet sold 5,781,683 shares and selling stockholders sold 6,718,317 shares. Fortinet’s common stock is traded on the Nasdaq Global Market under the symbol “FTNT.”

Based in Sunnyvale, California, Fortinet is a leading provider of network security appliances and the leader of the unified threat management market worldwide.

The Davis Polk team included partners Alan F. Denenberg and Sarah K. Solum and associates Stephen Salmon and Saswat Bohidar. Partner Steven S. Weiner and associate Vishnu Reddy provided intellectual property advice. Partner Rachel D. Kleinberg and associate M. Ryan LaRosa provided tax advice. Associate Catherine L. Martin provided advice on issues relating to the Investment Company Act of 1940. Counsel Marcie A. Goldstein provided FINRA advice. Karla K. Rogers and Jessica L. Talbot were the legal assistants for the transaction. All members of the Davis Polk team are based in the Menlo Park office, except Marcie A. Goldstein, Catherine L. Martin and Saswat Bohidar, each of the New York office.