Fortinet To Acquire Meru For $1.63/share - Quick Facts

(RTTNews) - Fortinet (FTNT) and Meru Networks (MERU) announced a definitive agreement for Fortinet to acquire Meru, a leader in intelligent Wi-Fi networking. Fortinet will pay $1.63 per Meru share in cash, an equity value of approximately $44 million. Fortinet said the acquisition adds an experienced research and engineering team to help accelerate the company's strategy to secure and manage wired and wireless devices together at any entry point to the network.

The acquisition is expected to close during the third quarter of calendar year 2015. Fortinet expects the transaction to have no material impact on billings, revenue, operating margins or non-GAAP profitability for the full year 2015.

Fortinet also announced a new FortiGuard mobile security subscription service to protect mobile devices and applications across the enterprise. The company said the new FortiGuard Mobile Security Service will be available in the third quarter of 2015.