Fortinet has closed acquisition of Meru Networks, a leader in intelligent Wi-Fi networking. With the close of this acquisition, Fortinet expands on its secure wireless vision and enterprise growth focus, broadens the company’s solutions portfolio, and expands its opportunity to uniquely address the $5-billion global enterprise Wi-Fi market with integrated and intelligent secure wireless solutions.
Fortinet is paying $1.63 per Meru share in cash, an equity value of approximately $44 million for the transaction. A wholly-owned subsidiary of Fortinet merged with and into Meru, resulting in Meru becoming a wholly-owned subsidiary of Fortinet.
Fortinet and Meru customers will benefit from Fortinet’s commitment to providing secure, uninterrupted connectivity for their highly mobile end-users, while offering channel partners a broader solutions portfolio to take to market.
“To truly protect against all possible attack vectors, we are continuing to expand our market-leading end-to-end security platform to provide customers with the visibility and continuous threat protection they need – from the data center, to the cloud to the end-point,” said Ken Xie, Founder, Chairman & CEO, Fortinet. “We expect the acquisition of Meru to help us deliver new solutions and services to help enterprises of all sizes deploy, manage, and secure wired and wireless networks in a mobile era.”
With the completion of the transaction, Meru’s employees will officially join Fortinet. All shares of Meru will be delisted from the NASDAQ stock market by the close on 8th July, 2015.