Fortinet has finalized the acquisition of Meru Networks
FORTINET, the world leader in the production of high-performance cyber security solutions, has finalized the acquisition of Meru Networks - a leading manufacturer of intelligent Wi-Fi networks. At the end of the transaction, Meru employees became officially Fortinet employees. All shares of Meru have already been withdrawn from the NASDAQ stock exchange.
As part of the acquisition, Fortinet paid US $ 1.63 for each Meru share. The total transaction amount was approximately USD 44 million. At the beginning, Fortinet announced a call for the purchase of Meru shares outstanding. They constituted 60.18% of all shares of the producer. Subsequently, the subsidiary company owned by Fortinet merged with Meru, as a result of which Meru became a subsidiary of Fortinet. As a result of the merger, all other shares of Meru, which were not acquired by Fortinet as part of the tender offer, were transformed into the right to receive compensation in cash.
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).
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