Meru Networks

Meru Networks

Company type	Subsidiary
Traded as	Nasdaq: MERU
Industry	Wireless LAN
Founded	2002 (2002), in Sunnyvale, California, U.S.
Founder	Dr. Vaduvur Bharghavan Srinath Sarang Joseph Epstein Sung-Wook Han
Headquarters	Sunnyvale, California , U.S.
Area served	Worldwide
Key people	Bami Bastani (CEO) Larry Vaughan (SVP Sales) Sarosh Vesuna (SVP & GM Enterprise BU)
Products	Wireless access points Wireless LAN Controller Networking devices
Revenue	USD 90.5 million (2011)
Net income	USD 26.7 million (2011)
Total assets	USD 66.8 million (2011)
Total equity	USD 32.5 million (2011)
Number of employees	403 (2011)
Parent	Fortinet
Website	merunetworks.com

Meru Networks specialized in providing Wireless LAN solutions tailored for sectors including healthcare, corporate enterprises, hospitality, K-12 schools, and higher education institutions. Established in 2002 with its headquarters situated in Sunnyvale, California, the firm went public in March 2010 before being acquired by Fortinet in May 2015.

History

Founded in 2002, Meru Networks aimed to address the limitations of traditional wireless designs that kept wired business networks separate from wireless networks intended for casual use. This segregation often resulted in problems such as co-channel interference and restricted scalability. The company introduced a virtualized wireless LAN system that empowered organizations to transition applications from wired infrastructures to wireless environments, advancing the vision of an "All-wireless enterprise." Their technology leveraged virtualization to develop self-regulating wireless networks that improved application accessibility and performance while supporting integrated applications such as voice, video, and data.

Meru’s offerings supported IEEE 802.11ac and 802.11n wireless protocols, centered around a “Virtual Cell” Wi-Fi methodology. This solution consolidates access points and controllers into a unified management framework, streamlining network administration, reducing the quantity of required access points, and preventing bandwidth conflicts.

In 2011, Meru was honored with the ITP Technology Best Wireless Solution award and gained recognition as one of Health Management Technology's Coolest Products.

Timeline

• February 2002: Dr. Vaduvur Bharghavan, Srinath Sarang, Sung-Wook Han, and Joe Epstein establish Meru Networks
• June 2005: Completes $12 million Series C funding round
• May 2006: Secures $25 million through Series D financing
• January 2007: Raises an additional $27.6 million in funding
• January 2009: Ihab Abu-Hakima assumes role of President and CEO
• April 2009: Obtains $30 million as part of Series E funding
• August 2009: Adds $57 million to Series E, bringing total to $87.5 million
• March 2010: Listed publicly on NASDAQ under the ticker symbol MERU
• May 2011: Founder Dr. Bharghavan launches a new venture and transitions to Advisory CTO position
• March 2012: Bami Bastani appointed as President and CEO
• May 2015: Fortinet acquires Meru, enhancing its wireless networking offerings

Software

• Meru System Director Operating System powers all Meru controllers and access points by utilizing virtualized WLAN technology. It integrates application modules designed for enterprise requirements and operates with advanced radio frequency control at the hardware level.
• Meru Identity Manager facilitates large-scale Wi-Fi device access management within BYOD settings for organizations.
• Meru Service Assurance Manager provides comprehensive monitoring and diagnostic tools across wireless networks and their associated applications.
• Meru E(z)RF Network Manager oversees multiple controllers and thousands of access points, offering real-time tracking and location-based firewall features.
• Meru Spectrum Manager delivers solutions focused on spectrum analysis.

Hardware

• Access Points are engineered from the radio layer upward to support virtualized WLANs, enabling enterprises to substitute wired Ethernet switches at network edges when paired with Meru software.
• Controllers accommodate scaling from a handful to thousands of access points, coordinating them to minimize interference while managing traffic to enhance user density and backhaul throughput.
• Appliances within the Meru Services Appliance line offer an expandable platform for managing 802.11x networks by aggregating data from access points into a centralized repository for sophisticated management functions.

Distribution of Meru's offerings is conducted through value-added resellers (VARs) and distribution partners.

Markets

Meru primarily serves the education, healthcare, and hospitality industries. Approximately three-quarters of its worldwide revenue originates from the Americas, supporting a customer base of about 12,500 clients globally, including notable organizations such as CME Group and Hellmann Worldwide Logistics.

While focusing on these sectors, Meru also extends services to other industries. Notably, in December 2011, the company collaborated with Ayacht Technology Solutions to implement a Wi-Fi infrastructure at Fenway Park, home stadium of Major League Baseball’s Boston Red Sox.

Acquisitions

On September 8, 2011, Meru expanded by acquiring UK-based Identity Networks, a company specializing in access control since its founding in 2006. Identity Networks offers provisioning and notification solutions that deliver guest access credentials via email or SMS, alongside capabilities for reporting, auditing, and policy customization.

Acquisition

On May 27, 2015, Fortinet finalized the purchase of Meru Networks for $44 million in cash. The acquisition involved incorporating Meru's personnel and business functions into Fortinet's existing framework.