In its first contract win of the new year, Fortinet's SD-WAN is now available from managed service provider GTT Communications.

According to GTT, the company is targeting Fortinet's SD-WAN at distributed enterprise and branch networking applications in retail, quick-service restaurants, and financial services.

"Our broad portfolio of SD-WAN service options, that now includes Fortinet, ensures that clients can run their applications with superior security, performance and reliability to support their business goals," said Rick Calder, GTT president and CEO, in a statement.

Fortinet's offering is built around a next-generation firewall that offers unified threat management, SD-WAN, edge, and router functionality.

According to Fortinet CMO and SVP of Products John Maddison, the combination of GTT's global tier-one network and Fortinet's SD-WAN enables "high-performing and differentiated services for GTT clients worldwide."

Following a dismal second half of 2019, GTT's fortunes are looking up following the company's decision to liquidate non-strategic assets including those acquired from Hibernia and Interoute during the company's third fiscal quarter of 2019.

However, the company still faces an uphill battle. The company is facing a mountain of long-term debt to the tune of $3.2 billion.

During the company's second-quarter 2019 earnings call, GTT's former CFO Michael Sicoli estimated the value of these assets at somewhere north of $100 million. However, that estimate did not take into account the sale of the company's fiber business. And during the company's third-quarter earnings call, Calder expressed confidence that the sale of these assets would significantly deleverage GTT's balance sheet and reduce capital expenditures.

A note from Buckley Capital Management argues that GTT is undervalued and misunderstood, making the case that the company has significant headroom to cover its interest payments and that mergers and acquisitions indicate GTT's value at $52 per share if it were put up for sale.

And a sale might be in GTT's future, according to Buckley Capital, which claims that the presence of a large shareholder on the board and recent stock drop may indicate that management could put the business up for sale sooner than later.

Last year saw Fortinet expand its reach to several new markets thanks to lucrative service contracts with Telenor Sweden, Softbank, and Orange Business Solutions.

These contract wins helped the company climb the ranks to become one of the leading SD-WAN vendors with Gartner and IHS Markit ranking the Fortinet in the No. 3 and No. 4 spots, respectively.

With today's announcement, it would seem that Fortinet has no plans of slowing down going into 2020.