Fortinet Closes Acquisition of Wi-Fi Vendor Meru Networks

<p>US-based cyber security solutions provider Fortinet, announced that it has closed the acquisition of Wi-Fi vendor Meru Networks. 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.<br><br>In connection with the acquisition, Fortinet is paying $1.63 per Meru share in cash, an equity value of approximately $44 million for the transaction. With the completion of the transaction, Meru employees officially join Fortinet.<br><br>The deal involved Fortinet purchasing just over 60 per cent of Meru's shares for around US$44 million, and then merging one of Fortinet's wholly-owned subsidiary companies with Meru, making Meru a wholly-owned subsidiary of Fortinet. Ordinary owners of the remaining 40% of Meru shares received the right to the same $US1.63 per share. Meru will be soon delisted from the NASDAQ.<br><br>Frontier notes in its release that the addition of Meru’s intelligent Wi-Fi solutions to the Fortinet portfolio extends the delivery of a secure, uninterrupted user experience – anytime anywhere – providing peak performance in environments requiring high capacity load and a high-density of wireless users, such as enterprise, education, healthcare, and hospitality.<br><br>“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.<br><br>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.&nbsp;</p>