Media Coverage
Source: The Deal, Yahoo! Finance
Media Coverage
05.28.15
Fortinet, a global leader in high-performance cybersecurity solutions, announced a definitive agreement to acquire Meru Networks, a leader in intelligent Wi-Fi networking. The acquisition broadens Fortinet’s solutions portfolio and expands its opportunity to uniquely address the $5 billion global Wi-Fi market. Under the terms of the agreement, Fortinet will pay $1.63 per Meru share in cash, an equity value of approximately $44 million for the transaction. Meru received legal counsel from Emerging Growth & Venture Capital partner James J. Masetti, Emerging Growth & Venture Capital partner Alan B. Kalin, Executive Compensation & Benefits Howard L. Clemons, Corporate partner Heidi Mayon, Intellectual Property partner David H. Jaffer, Tax partner C. Brian Wainwright, Employment & Labor partner Marcia L. Pope, Emerging Growth & Venture Capital associate Jimmy K. Yun, Emerging Growth & Venture Capital associate Lisa Yun and Executive Compensation & Benefits associate Justin Krawitz. As mentioned in The Deal.
Additionally, Cloud-IT infrastructure provider China Information Technology Inc. (CNIT) is shoring up its balance sheet with a $13.53 million offering of common stock and warrants. Before the deal, CNIT had $11.1 million on the books after three years of falling revenues. A Pillsbury team represented the issuer in this deal. The team for this deal included Corporate counsel Qixiang Sun, Corporate partner Woon-Wah Siu and Corporate associate Matthew J. Kane. As mentioned in The Deal.
Finally, Naseeb Networks, a leading provider of employment marketplaces in emerging geographies, announced that it has raised $6.5 million in a Series C funding round, bringing the company’s total venture funding to $8.5 million. Naseeb Networks will use the new round of funding to accelerate its growth in target markets. Instrumental in this deal was a Pillsbury team led by Emerging Growth & Venture Capital partner Riaz A. Karamali. The team included attorney Stephen D. Hargraves, Emerging Growth & Venture Capital associate Steve Uffelman, Emerging Growth & Venture Capital senior legal analyst Candice S. McCartney and Finance partner Thomas K. Gump.