Cyber security solutions provider, Fortinet, has announced the completion of its acquisition of Wi-Fi networking vendor, Meru Networks. The acquisition will see Fortinet include Meru’s Wi-Fi solutions to its portfolio and Meru becoming a wholly owned subsidiary of Fortinet.
The company said, in a statement, that the acquisition aims to extend the delivery of a secure, uninterrupted user experience.
Fortinet founder, chairman and CEO, Ken Xie, said with the close of this acquisition, Fortinet will expand on its secure wireless vision and enterprise growth focus, broaden the company’s solutions portfolio, and expand its opportunity to address the $5 billion global enterprise Wi-Fi market with secure wireless solutions.
He claimed the addition of Meru’s Wi-Fi solutions to the Fortinet portfolio will extend the delivery of a secure, uninterrupted user experience, especially in environments requiring high capacity load and a high-density of wireless users, such as enterprise, education, healthcare, and hospitality.
“To truly protect against all possible attack vectors, we are continuing to expand our end-to-end security platform to provide customers with visibility and continuous threat protection they need – from the datacentre, to the Cloud to the end-point,” he said.
“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.”
In addition, Xie mentioned Fortinet and Meru customers will benefit from its commitment to providing secure, uninterrupted connectivity for highly mobile end-users, while offering channel partners a broader solutions portfolio to take to market.
Fortinet has accepted the payment of $US1.63 per Meru share in cash, an equity value of about $US44 million for the transaction. In addition, all shares of Meru are expected to be delisted from the NASDAQ stock market.
The completion of the transaction will also see all Meru employees officially join Fortinet.