Aerohive Networks
| Company type | Public (until 2019) |
|---|---|
| Industry | Networking equipment |
| Founded | 2006 |
| Founder | Changming Liu |
| Defunct | August 9, 2019 |
| Fate | Acquired by Extreme Networks |
| Headquarters | Milpitas, California , United States |
Area served | Worldwide |
Key people | Changming Liu (Founder) |
| Products | Cloud-managed networks, AI-driven management tools, Wi-Fi access points, switches, branch routers, application services |
Aerohive Networks, Inc. was a global networking equipment provider based in Milpitas, California, operating from 17 offices worldwide. Established in 2006 by Changming Liu, the firm focused on delivering wireless networking solutions tailored for mid-sized and large enterprises.
In 2012, Aerohive earned a spot on The Wall Street Journal's "Top 50 Start-Ups" list and secured around $105 million in venture capital funding prior to its initial public offering in March 2014. Its range of products encompassed cloud-managed networks, AI-driven management tools, Wi-Fi access points, switches, branch routers, and application services, generating revenues of $169.8 million in 2016.
Extreme Networks revealed plans to acquire Aerohive on June 26, 2019, with the deal valued at approximately $272 million; the transaction finalized on August 9, 2019.
History
Founded by Changming Liu in 2006, Aerohive began with a Series A investment of $4 million. The company attracted $20 million in Series B funding in July 2007, led by Kleiner Perkins Caufield & Byers. In March 2010, a Series C financing round raised $23.5 million aimed at expanding sales and marketing capabilities. Aerohive enhanced its cloud management platform through the acquisition of Pareto Networks in 2011, incorporating their cloud-based routing technology.
By September 2012, Aerohive secured $22.5 million in Series E funding and announced intentions to pursue an IPO the following year, bolstered by an additional $10 million raised in 2013. The company debuted on the New York Stock Exchange under the ticker HIVE on March 28, 2014. Later that year, it partnered with Apple as part of President Barack Obama’s ConnectED initiative to provide wireless connectivity solutions to schools receiving Apple devices.
Aerohive announced interoperability with Barracuda Networks’ security solutions in May 2015 and formed a technology partnership with Juniper Networks in September of the same year. In January 2016, it launched HiveSchool, an educational application for K-12 students compatible with any network environment and Chrome browsers. February 2016 saw Synnex Corporation appointed as Aerohive’s exclusive distributor within Canada, followed by a strategic alliance with Dell announced in April.
The company introduced SD-LAN, a software-defined local area network product, in September 2016. In August 2018, Aerohive unveiled enterprise-grade 802.11ax (Wi-Fi 6) access points alongside the modular ATOM AP630 wireless access point.
On June 26, 2019, Extreme Networks declared its plan to acquire Aerohive Networks; this acquisition was completed on August 9, 2019, for roughly $272 million. Taking into account Aerohive’s net cash position of $62 million at the close of its fiscal first quarter, the deal implied an enterprise valuation near $210 million.
See also
External links
- Articles with short description
- Companies formerly listed on the New York Stock Exchange
- 2006 establishments in California
- Companies based in Sunnyvale, California
- Technology companies established in 2006
- Multinational companies headquartered in the United States
- Networking companies of the United States
- Technology companies based in the San Francisco Bay Area
- 2019 mergers and acquisitions
- Defunct computer companies of the United States
- Defunct computer hardware companies
- Networking hardware companies