Bangalore: Fortinet, the unifying bellwether in cyber security has acquired Meru Networks, a leading astute Wi-Fi networking company. Through this acquisition Fortinet has now expanded its opportunity to inimitably address the $5 billion macrocosmic venture.
With FortiAP secure wireless access points and FortiWiFi integrated security appliances for diminutive businesses, Fortinet has advanced in the technology range. Acquiring Meru’s shrewd WiFi solutions, Fortinet can now elongate its wings to a secure, non-stop utilizer experience-anytime- anywhere providing high capacity load and high-density of wireless in education, healthcare, hospitality and enterprises. With the completion of the transaction, both Fortinet and Meru customers will be benefitted from the secure and continuous connectivity.
Ken Xie, progenitor, Chairman & CEO, Fortinet expounded, “To genuinely bulwark against all possible attack vectors, we are perpetuating to expand our market-leading end-to-end security platform to provide customers with the overtness and perpetual threat bulwark they require – from the data center, to the cloud to the cessation-point. We expect the acquisition of Meru to avail us distribute incipient solutions and accommodations to avail enterprises of all sizes deploy, manage, and secure wired and wireless networks in a mobile era”.
To consummate the deal, Fortinet has paid $44 million - $1.63 per Meru’s share in mazuma. Fortinet has already consummated the transaction for all outstanding quotas of Meru that represent approximately 60.18 percent of shares. In additament to the acquisition, Fortinet has launched an incipient FortiGuard Mobile Security accommodation to forfend contrivances across the enterprises.
Meru has more than 33 awarded patents and currently has 35 pending patents which will integrate to Fortinet’s 210 patents issued and over 165 pending patent applications. With 300 employees of Meru joining Fortinet, Meru’s yearly revenue of $90.9 million will surely boost Fortniet in the coming future. The consummate acquisition is expected to close by third quarter of this year.