Fortinet Announces Agreement to Acquire Meru Networks · Marketwired) -- 05/27/15 -- · Fortinet, the global leader in high-performance cyber. Fortinet said Wednesday that it will acquire Meru Networks, which provides secure Wi-Fi networking tools, in a deal valued at $44 million. Network security firm Fortinet said on Wednesday that it has agreed to acquire Meru Networks (NASDAQ: MERU), a provider of enterprise wireless. 1955 THUNDERBIRD PART
Fortinet's proven solutions in secure Wi-Fi markets, with its FortiAP secure wireless access points and FortiWiFi integrated security appliances for enterprise branch offices and small businesses, have been among the fastest growing products in the company's "advanced technologies" portfolio.
|Fortinet meru acquisition||Retrieved February 6, This article has multiple issues. Meru was founded in and completed its initial public offering in The Meru open-standards-based architecture is designed to enable unified management of wired and wireless networks. Although we attempt to be accurate in making forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. Investor Relations. As transformation moves beyond executive aspiration to a boardroom necessity, CIOs are charting a new path forward in Asia Pacific with the partner ecosystem in fast pursuit.|
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FORTINET WEB FILTER CATEGORIES DESCRIPTION
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We believe the extension of our market-leading end-to-end security platform will increase our growth opportunities and benefit our customers and partners globally. In a separate press release today, Fortinet announced the launch of a new FortiGuard Mobile Security subscription service.
Deployable on its industry-leading FortiGate integrated security appliances, this new service is designed to protect mobile devices across the enterprise, particularly in BYOD scenarios. Synergistic with the Meru acquisition, the FortiGuard Mobile Security subscription services strengthen Fortinet's solutions platform and reinforce its commitment to protecting enterprise customers' critical assets in both wired and wireless environments.
The acquisition of Meru Networks adds an experienced research and engineering team to help accelerate Fortinet's strategy to secure and manage wired and wireless devices together at any entry point to the network. In addition, Meru's portfolio of more than 33 awarded patents and 35 pending patents bolsters Fortinet's more than issued and allowed patents worldwide, and over pending patent applications, and represent innovation that will benefit the more than 14, Meru customers and , Fortinet customers worldwide.
The acquisition is expected to close during the third quarter of calendar year , subject to customary closing conditions. Fortinet expects the transaction to have no material impact on billings, revenue, operating margins or non-GAAP profitability for the full year Once the transaction closes, Fortinet will include Meru in its guidance going forward and provide additional financial details in its second quarter financial results announcement.
Prior to the close, Fortinet and Meru will continue to operate as separate companies. Meru was founded in and completed its initial public offering in The company is based in Sunnyvale, CA, and has more than employees worldwide. The Meru open-standards-based architecture is designed to enable unified management of wired and wireless networks.
Its end-to-end application QoS enables enforceable service-level agreements. Meru provides top performance and high capacity in high-density environments. Visit www. About Fortinet Fortinet FTNT protects the most valuable assets of some of the largest enterprise, service provider and government organizations across the globe. The company's fast, secure and global cyber security solutions provide broad, high-performance protection against dynamic security threats while simplifying the IT infrastructure.
They are strengthened by the industry's highest level of threat research, intelligence and analytics. More than , customers worldwide, including some of the largest and most complex organizations, trust Fortinet to protect their brands.
All rights reserved. Other trademarks belong to their respective owners. Additional Information The tender offer has not yet commenced. This release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of Meru, nor is it a substitute for the tender offer materials that Fortinet and its acquisition subsidiary will file with the SEC upon commencement of the tender offer.
Holders of shares of Meru are urged to read these documents when they become available because they will contain important information that holders of Meru securities should consider before making any decision regarding tendering their securities. Forward-looking Statements This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding acquisition synergies and benefits to Fortinet, the growth of the WiFi market and demand for Foritnet's offerings, growth opportunities, the closing of the acquisition and impact of the acquisition, momentum in Fortinet's business and momentum with the offerings discussed in this press release, potential growth of Fortinet's business, product performance, and timing of the transaction.
Although we attempt to be accurate in making forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. All forward-looking statements herein reflect our opinions only as of the date of this release, and we undertake no obligation, and expressly disclaim any obligation, to update forward-looking statements herein in light of new information or future events.
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In this article, we discuss 10 undervalued dividend stocks to buy in You can see some more undervalued dividend stocks by clicking 5 Undervalued Dividend Stocks to Buy in Subsequently, a wholly-owned subsidiary of Fortinet merged with and into Meru, resulting in Meru becoming a wholly owned subsidiary of Fortinet. As a result of the merger, all remaining shares of Meru not purchased by Fortinet in the tender offer other than shares owned by Meru, Fortinet or their subsidiaries and shares subject to properly exercised appraisal rights claims were converted into the right to receive the aforementioned cash payment.
The company's fast, secure and global cyber security solutions provide broad, high-performance protection against dynamic security threats while simplifying the IT infrastructure. They are strengthened by the industry's highest level of threat research, intelligence and analytics. More than , customers worldwide, including some of the largest and most complex organizations, trust Fortinet to protect their brands.
All rights reserved. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, binding specification or other binding commitment by Fortinet , and performance and other specification information herein may be unique to certain environments.
This news release contains forward-looking statements that involve uncertainties and assumptions, such as statements regarding product releases, the anticipated benefits of Fortinet's acquisition of Meru and Fortinet's future plans for Meru's business.
Changes of circumstances, product release delays, risks that the anticipated benefits of the acquisition may not be realized, changes in business plans or other risks as stated in our filings with the Securities and Exchange Commission , located at www. If the uncertainties materialize or the assumptions prove incorrect, results may differ materially from those expressed or implied by such forward-looking statements and assumptions.
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