We view Fortinet as a leader in security with solutions ranging from network security firewalls to security operations. In reviewing the company’s market opportunities, we believe Fortinet stands to benefit significantly as long-term security and vendor consolidation tailwinds increase its value proposition to its customers. In our opinion, the company’s established customer switching costs, reinforced by its increasingly powerful network effect, will allow Fortinet to continually gain and increase the number of customers and have already enabled it to build a large economic gap around its activity.