Fortinet acquires Meru Networks
Representatives of Fortinet - suppliers of advanced network security solutions and Meru Networks - one of the largest companies specializing in the production of advanced wireless solutions for business and administration, signed an agreement on the acquisition of Meru by Fortinet. Thanks to the acquisition of the portfolio Fortinet will be enriched with advanced Meru products, and thus the company will be able to more effectively acquire customers from the global market worth over 5 billion Wi-Fi.
Under the agreement, Fortinet will pay $ 1.63 a share of Meru, as a result of which the total transaction amount will exceed $ 44 million. The acquisition process should be carried out in the third quarter of 2015.
Fortinet's wireless solutions for large companies and the SME sector, such as FortiAP access points or integrated FortiWiFi security gates, belong to one of the fastest growing and perspective product groups in the company's portfolio. The inclusion of advanced, intelligent Meru solutions in it will allow clients, such as hospitals, offices and universities, to use secure, uninterrupted internet access via high-speed networks. Meru Networks provides access points, wireless network controllers (both physical and virtual as well as available as a cloud service) and software for managing Wi-Fi networks and software-defined networks (SDN).
The acquisition of Meru Networks will not only strengthen our business position in the market for solutions for the construction of wireless networks. Expanding the product development department will allow us to create even more innovative products and services tailored to the needs of enterprises and institutions of all sizes. This acquisition is perfectly in line with our vision of providing secure and at the same time comprehensive, high-speed networks - said Ken Xie, founder and president of Fortinet.
Incorporation of Meru into the Fortinet structure will strengthen our position in the global wireless network market. Together, we will be able to respond to the needs of IT managers who expect secure, uninterrupted data transmission from the Internet to devices of increasingly mobile employees and customers - said Dr. Bami Bastani, president of Meru Networks.
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