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MERU $1.63

MERU target price
1.63
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Meru Networks
Type
Subsidiary of Fortinet
Traded as NASDAQ: MERU
Industry Wireless LAN
Founded Sunnyvale, California, U.S.
(2002)
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)
Products Wireless access points
Wireless LAN Controller
Networking devices
Revenue Increase USD 90.5 million (2011)
Net income
Decrease USD 26.7 million (2011)
Total assets Decrease USD 66.8 million (2011)
Total equity Decrease USD 32.5 million (2011)
Number of employees
403 (2011)
Website merunetworks.com

Meru Networks was a supplier of wireless local area networks (WLANs) to healthcare, enterprise, hospitality, K-12 education, higher education, and other markets. Founded in 2002 and headquartered in Sunnyvale, California, United States, the company made its initial public offering in March 2010.

Meru Networks was founded in 2002 to address issues with legacy wireless networking architectures that support two separate access networks: a wired network for business-specific applications and a wireless network for casual use. This causes problems ranging from co-channel interference to the inability of micro-cellular systems to scale up. Meru Networks develops and markets a virtualized wireless LAN solution that enables enterprises to migrate applications from wired networks to wireless networks and become what Meru refers to as the "All-wireless enterprise." The company uses an approach to wireless networking that employs virtualization technology to create a self-monitoring wireless network that provides access to applications, improved application performance, and a greater ability to run converged applications, such as voice, video and data, over a wireless network.

The company’s current products address the IEEE 802.11ac and 802.11n wireless networking standards, The company focuses on a “Virtual Cell” approach to Wi-Fi. Under a single service assurance platform, it aggregates access points and the controller needed to manage them. This simplifies the management of access points, cuts the number of access points needed on a wireless network, and eliminates bandwidth contention issues.

Products and services are sold through value-added resellers (VARs) and distributors.

2011 honors include:

The company focuses on the education, healthcare and hospitality markets. Approximately three-quarters of its global sales come from the Americas, and among its 12,500 customers worldwide are the CME Group and Hellmann Worldwide Logistics.

While the company’s main emphasis is on the markets noted above, they are not its exclusive focus. In December 2011, for example, Meru announced that it was working with Ayacht Technology Solutions to install a new Wi-Fi network at historic, 37,000-seat Fenway Park, the home of Major League Baseball's Boston Red Sox

On September 8, 2011, Meru announced that it had acquired access control specialist Identity Networks. Founded in 2006 and based in Manchester, UK, Identity Networks develops and markets tools that offer provisioning and notification services that give guests access credentials by way of email, or SMS, and also provide reporting, auditing, and policy customization.

On May 27, 2015, Fortinet agreed to acquire Meru Networks for $44 million in cash. Fortinet will integrate the Meru Networks team and operations into their organization.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

5016-03-31
2014-04-29 Downgrade William Blair Outperform to Market Perform
2014-03-19 Initiated Mizuho Buy $6
2014-03-18 Initiated Coverage Mizuho Buy $6.00
2014-02-11 Reiterated Rating Bank of America Underperform $3.25 to $2.75
2013-03-11 Resumed William Blair Outperform
2012-06-25 Downgrade JMP Securities Mkt Outperform to Mkt Perform
2012-01-04 Resumed JMP Securities Mkt Outperform $5
2011-12-14 Initiated Avian Neutral
1970-01-01
0871-03-19
0737-03-21
5016-03-31
2014-04-29 Downgrade William Blair Outperform to Market Perform
2014-03-19 Initiated Mizuho Buy $6
2014-03-18 Initiated Coverage Mizuho Buy $6.00
2014-02-11 Reiterated Rating Bank of America Underperform $3.25 to $2.75

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In MERU 0 funds of 2213 total. Show all

Fund name Ticker shares

Major Shareholders

Name Relationship Total Shares Holding stocks
Singer Eric 2.59%  (610116) IEC / MERU / NMRX / PLXT / QTM / SEAC / SIGM / SPRT / TIGR / YUME /
Copperman Harold D 1.93%  (455092) IDSY / MERU /
Newman Barry A. 1.30%  (305950) MERU /
Quigley William 0.93%  (219726) MERU /
KISSNER CHARLES 0.86%  (203969) AVNW / MERU / RMBS / SHOR /
Malik Ajay SVP, Worldwide Engineering 0.49%  (115186) MERU /
MERESMAN STANLEY J 0.46%  (108220) LNKD / MERU / PANW / ZNGA /
KURTZWEIL JOHN T 0.43%  (102158) ACLS / CREE / EXTR / MERU /
COX BARRY L /ADV 0.41%  (96402) ADNC / MERU / PXLW /
BASTANI BAMI President & CEO 0.33%  (77836) CRMD / GLOW / MERU /
Mitsakos Nicholas 0.28%  (66676) MERU /
Vaughan Larry SVP of WW Sales, SRVC & SUPT 0.26%  (61672) MERU /
Anand Kamal General Manager, Hospitality 0.25%  (58689) MERU /
DOMENIK STEPHEN L 0.22%  (50719) EMKR / MERU / MOSY / PLXT / PXLW / RSYS / YUME /
McDonald Brian R Chief Financial Officer 0.20%  (46148) MERU /
Vesuna Sarosh GM, Higher Education 0.18%  (41475) MERU /
Ramakrishna Sudhakar 0.14%  (33993) CTXS / MERU / MITL /
Simmons Philip SVP WW Engineering 0.07%  (15393) MERU /
WHITE BRETT T Chief Financial Officer 0.05%  (12498) MERU /
Liu Mark General Counsel 0.02%  (4833) MERU /