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Fortinet to acquire Meru Networks for USD 44 mln
2015-05-27 18:25:00| Telecompaper Headlines
(Telecompaper) Fortinet announced an agreement to acquire Meru Networks for USD 44 million, expanding its position in the secure wireless networking market. The company said its FortiAP wireless access points and FortiWiFi security appliances are already its fasting-growing products. The addition of Meru's Wi-Fi products extends its portfolio for environments requiring high-capacity load and a high-density of wireless users, such as enterprise, education, healthcare and hospitality. Meru's product range includes access points, controllers, SDN-enabled Wi-Fi system software, and cloud and virtual wireless controllers and appliances. In addition, Meru brings more than 33 awarded patents and 35 pending patents and over 14,000 customers worldwide. Under the terms of the agreement, Fortinet will pay USD 1.63 per Meru share in cash, an equity value of USD 44 million. Based in California, Meru had over USD 90 million in revenues last year. The takeover is expected to close in Q3. Fortinet also announced new FortiGuard mobile security subscription service to protect mobile devices and applications across the enterprise. Deployable on its FortiGate integrated security appliances, this new service is designed for BYOD scenarios.
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Category:Telecommunications