​Fortinet acquires Meru Networks, rolls out BYOD service

Fortinet acquires Meru Networks for its technology to manage wireless networks as it rolls out a mobility service designed to better manage bring your own device environments.

Fortinet said Wednesday that it will acquire Meru Networks, which provides secure Wi-Fi networking tools, in a deal valued at $44 million.

For Fortinet, Meru rounds out its secure wireless portfolio and gives it an inroad into the enterprise Wi-Fi market.

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The company also rolled out a mobile security subscription service dubbed FortiGuard to secure mobile devices and applications in bring your own device enterprise settings.

Fortinet's move to secure enterprise Wi-Fi aims to cover security holes left by unknown devices and wireless networks.

Meru's technology delivers wireless connectivity management, controllers to manage traffic, a secure system to integrate wireless and wired networks, and appliances for data center or cloud deployments.

According to Fortinet, Meru also brings engineering talent and patents to the party. Meru has 14,000 customers.

Meru went public in 2010 and had annual revenue of $90.9 million. Meru has struggled with revenue declines in its most recent quarters. Meru's 2014 revenue was roughly flat with what it delivered in sales for 2011. Meru's 2015 revenue was expected to fall nearly 11 percent compared to 2014.

Add it up and Fortinet sees Meru as a value acquisition. Meru's shares were in the $3 range in February.