Fortinet Inc., a maker of network-security systems that sold shares to the public last year, has received a takeover approach from International Business Machines Corp., said two people with knowledge of the situation.
Fortinet is working with Morgan Stanley and exploring its strategic options, said the people, who asked not to be identified because the plans aren’t public. Discussions with IBM may be at an advanced stage, one person said, though a deal could still unravel. Fortinet rose 6.3 percent in Nasdaq Stock Market trading. A Fortinet representative said there are no talks with IBM and declined to comment on whether IBM made an approach or whether any talks were held.