Fortinet acquires Meru for $44 million

Fortinet said Wednesday it is acquiring Meru Networks for $44 million in a deal the two Sunnyvale companies say will combine their strengths in security and wireless networking.

Fortinet founder and CEO Ken Xie said the combination of the two companies “is expected to strengthen our position in the overall enterprise wireless market,” and will increase Fortinet’s growth as it develops “new solutions and services.”

Under the agreement, Fortinet will pay $1.63 per Meru share in cash, which values the transaction at $44 million.

Meru was founded in 2002 and has more than 300 employees worldwide, with revenues of $90.9 million.

Photo: Fortinet

 

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