November 20, 2012 – Meru Networks, Inc. (NASDAQ:MERU), a leader in virtualised wireless LAN solutions, has announced that it has been named to Deloitte’s Technology Fast 500 for the third consecutive year. Deloitte’s Technology Fast 500 ranks 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2007-2011.
Meru Networks` president and chief executive officer, Dr Bami Bastani, credits the growing demand for the company’s virtualised wireless network solutions with its 467 per cent revenue growth. “We believe this recognition from Deloitte Technology Fast 500 is testament to our company`s focused execution on delivering products and solutions that meet the needs of our customers. We believe our best of breed strategy coupled with our Bring Your Own Device provisioning and guest management software, our virtualised wireless LAN solutions, and our relentless attention to execution positions us well for further growth in the exciting wireless LAN market,” said Bastani.
With over 7,000 enterprise customers already deployed globally in 56 countries, Meru is a proven leader for reliable, high-performance wireless.
About Deloitte’s 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Meru Networks
Meru Networks (NASDAQ: MERU) designs, develops, and distributes virtualised wireless LAN solutions that provide enterprises with the performance, reliability, predictability and operational simplicity of a wired network with the advantages of mobility. Meru Networks eliminates the deficiencies of multichannel, client-controlled architectures with its innovative, single-channel, virtualised network architecture that easily handles device density and diversity. Meru wireless LAN solutions are deployed in major vertical industries including Fortune 500 businesses, education, hospitality, healthcare and retail supply chain. Founded in 2002, Meru is headquartered in Sunnyvale, Calif., with operations in North America, Europe, the Middle East and Asia Pacific. Visit www.merunetworks.com or call (408) 215-5300 for more information.
This press release contains forward-looking statements regarding Meru Networks expectations, hopes, plans, intentions or strategies, including, but not limited to statements regarding Meru’s continued growth, focused execution, delivery of solutions that meet the needs of customers, the believe that the company has a best of breed strategy, and that the company is well positioned for further growth in the wireless LAN market. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialise or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Meru Networks’ documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Meru Networks as of the date hereof, and Meru Networks assumes no obligation to update these forward-looking statements.
Meru Networks is a registered trademark of Meru Networks, Inc. All other trademarks are the property of their respective owners. As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.