Fortinet, the global leader in high-performance cyber security solutions, announced its closure of the acquisition of Meru Networks, a global provider of enterprise 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 $5B global enterprise Wi-Fi market with integrated and intelligent secure wireless solutions.
“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 and CEO of 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.”
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.
With the completion of the transaction, Meru employees officially join Fortinet.
Fortinet is paying $1.63 per Meru share in cash, an equity value of approximately $44 million for the transaction.
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