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Monday, 13 July 2015 12:11

Fortinet completes Meru acquisition

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Security vendor Fortinet has completed its acquisition of Wi-Fi specialist Meru Networks.

Fortinet announced in late May that it had reached a definitive agreement to acquire Wi-Fi vendor Meru Networks, and the deal has now been closed.

Meru's technology is aimed at providing good Wi-Fi connectivity to many users in a small area, as especially found in the education, healthcare and hospitality sectors.

Fortinet saw the acquisition as supporting its growth in the enterprise market through the provision of integrated and intelligent secure wireless solutions, and broadening its product portfolio.

"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 centre, 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."

The deal involved Fortinet purchasing just over 60% 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 is expected to be delisted from the NASDAQ.

Meru employees are now on the Fortinet payroll.

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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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