Meru Networks Ranked Number 25 Fastest Growing Company in North America on Deloitte’s 2010 Technology Fast 500(TM)
SUNNYVALE, Calif., Nov. 11, 2010 /PRNewswire/ — Meru Networks, Inc. (Nasdaq: MERU), the leader in virtualized and optimized 802.11n enterprise wireless networking, announced today that the company ranked number 25 on the prestigious Technology Fast 500(TM), Deloitte’s ranking of 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 2005-2009. Meru grew 6,252% percent during this period.
“We are honored to be included in the top 25 of Deloitte’s 2010 Technology Fast 500,” said Ihab Abu-Hakima, president and CEO of Meru Networks. “We believe our growth is driven by our innovative wireless LAN solutions, and fueled by our focus on customer satisfaction. More organizations are now migrating to an all wireless environment for their day-to-day operations. This award is further recognition of Meru’s leadership in virtualized wireless networking for the enterprise, and our success in delivering a Wireless-like-Wire((TM)) experience to over 4,000 organizations across major vertical market sectors worldwide.”
“Meru Networks and the other 2010 Technology Fast 500 winners forged ahead in a challenging economic environment to realize exceptional growth,” said Phil Asmundson, vice chairman and Deloitte’s U.S. technology, media and telecommunications leader. “Deloitte commends Meru for this impressive accomplishment.”
“Meru has proved itself to be one of the fastest growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500,” said Mark Jensen, managing partner, venture capital services, Deloitte & Touche LLP.
Overall, Technology Fast 500 award winners for 2010 had revenue growth ranging from 146 percent to 164,079 percent from 2005 to 2009, with an average growth of 2,361 percent. For additional detail on the Technology Fast 500(TM) including selection and qualifying criteria, visit: www.fast500.com.
About Meru Networks
Founded in 2002, Meru Networks develops and markets a virtualized wireless LAN solution that cost-effectively optimizes the enterprise network to deliver the performance, reliability, predictability and operational simplicity of a wired network, with the advantages of mobility. Meru’s solution represents an innovative approach to wireless networking that utilizes virtualization technology to create an intelligent and self-monitoring wireless network, and enables enterprises to migrate their business-critical applications from wired networks to wireless networks, and become all-wireless enterprises. Meru’s solutions have been adopted in major industry vertical markets, including education, healthcare, hospitality, manufacturing and retail. Meru is headquartered in Sunnyvale, Calif., and has operations in the Americas, Europe, the Middle East and Asia Pacific. For more information, visit www.merunetworks.com or call (408) 215-5300.
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 and organizations migrating to an all wireless environment,. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize 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.
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SOURCE Meru Networks, Inc.