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Fly News Breaks for May 27, 2015
MERU, FTNT
May 27, 2015 | 13:55 EDT
JPMorgan said it believes Fortinet's (FTNT) acquisition of Meru Networks (MERU) is small relative to the company's $1B in cash, but makes sense since there are significant cost synergies and it may help Fortinet extend the success it has seen with Wi-Fi in the small and medium-sized businesses segment. The firm, which has a Neutral rating on Fortinet, added that it thinks there could be more consolidation to come in the security space.
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