Aerohive Networks was an American multinational computer

networking Network, networking and networked may refer to: Science and technology * Network theory, the study of graphs as a representation of relations between discrete objects * Network science, an academic field that studies complex networks Mathematic ...

equipment company headquartered in

Milpitas, California Milpitas ( Spanish for "little milpas") is a city in Santa Clara County, California, in Silicon Valley. As of the 2020 census, the city population was 80,273. The city's origins lie in Rancho Milpitas, granted to Californio ranchero José Mar� ...

, with 17 additional offices worldwide. The company was founded in 2006 and provided

wireless networking A wireless network is a computer network that uses wireless data connections between network nodes. Wireless networking is a method by which homes, telecommunications networks and business installations avoid the costly process of introducing c ...

to medium-sized and larger businesses. In 2012, Aerohive was listed on '' The Wall Street Journal's'' list of "Top 50 Start-Ups." The company raised around $105 million in venture capital funding before undergoing an IPO in March 2014. On June 26, 2019,

Extreme Networks Extreme Networks is an American networking company based in San Jose, California. Extreme Networks designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, a ...

announced its intent to acquire Aerohive for a purchase price of approximately $272 million. The acquisition closed on August 9, 2019.

History

Aerohive was founded in 2006 by Changming Liu. That same year, the company raised $4 million in

series A round A series A round (also known as series A financing or series A investment) is the name typically given to a company's first significant round of venture capital financing. The name refers to the class of preferred stock sold to investors in exch ...

funding Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm use ...

. In July 2007, the company raised an additional $20 million in series B round funding led by

Kleiner Perkins Caufield & Byers Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers (KPCB), is an American venture capital firm which specializes in investing in incubation, early stage and growth companies. Since its founding in 1972, the firm has backed entrepreneurs ...

. Aerohive completed a series C round of funding, raising $23.5 million to expand its sales and marketing strategy in March 2010. In 2011, the company acquired Pareto Networks, a cloud-based routing service, the acquisition allowed Aerohive to integrate Pareto's

cloud In meteorology, a cloud is an aerosol consisting of a visible mass of miniature liquid droplets, frozen crystals, or other particles suspended in the atmosphere of a planetary body or similar space. Water or various other chemicals may ...

management technology into its existing offerings. In September 2012, Aerohive raised $22.5 million in a series E round of funding and announced its plans to undergo an IPO the following year. The company raised an additional $10 million in funding as it prepared to go public, in 2013. On March 28, 2014, the company was listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...

under the HIVE symbol. Aerohive joined Barack Obama's

ConnectED Connected may refer to: Film and television * ''Connected'' (2008 film), a Hong Kong remake of the American movie ''Cellular'' * '' Connected: An Autoblogography About Love, Death & Technology'', a 2011 documentary film * ''Connected'' (2015 TV ...

initiative in October 2014, when it partnered with Apple Inc. and provided wireless connectivity to the schools receiving Apple products. Aerohive announced that its devices would operate more seamlessly with

Barracuda Networks Barracuda Networks, Inc. is a company providing security, networking and storage products based on network appliances and cloud services. The company's security products include products for protection against email, web surfing, web hackers ...

security products in May 2015. In September 2015, the company announced a technology alliance with

Juniper Networks Juniper Networks, Inc. is an American multinational corporation headquartered in Sunnyvale, California. The company develops and markets networking products, including routers, switches, network management software, network security product ...

. In January 2016, the company released HiveSchool, a learning application for K-12 classrooms that runs on any network with any computer running the

Google Chrome Google Chrome is a cross-platform web browser developed by Google. It was first released in 2008 for Microsoft Windows, built with free software components from Apple WebKit and Mozilla Firefox. Versions were later released for Linux, macOS, ...

web browser. The company announced that it had entered a distribution agreement with Synnex Corporation in February 2016. The agreement named Synnex as the exclusive distributor of Aerohive products in Canada. In April 2016, Aerohive announced a strategic partnership with the technology company

Dell Dell is an American based technology company. It develops, sells, repairs, and supports computers and related products and services. Dell is owned by its parent company, Dell Technologies. Dell sells personal computers (PCs), servers, data ...

. In September 2016, the company released SD-LAN, a software-defined network that functions on

local area networks A local area network (LAN) is a computer network that interconnects computers within a limited area such as a residence, school, laboratory, university campus or office building. By contrast, a wide area network (WAN) not only covers a large ...

. And then in August 2018, the company shipped the first family of enterprise-class 802.11ax access points (

Wi-Fi 6 IEEE 802.11ax, officially marketed by the Wi-Fi Alliance as (2.4 GHz and 5 GHz) and (6 GHz), is an IEEE standard for wireless local-area networks (WLANs) and the successor of 802.11ac. It is also known as ''High Efficiency'' , for ...

), along with the first enterprise-class pluggable

wireless access point In computer networking, a wireless access point (WAP), or more generally just access point (AP), is a networking hardware device that allows other Wi-Fi devices to connect to a wired network. As a standalone device, the AP may have a wired ...

(ATOM AP630). On June 26, 2019

was reported to take over Aerohive Networks. The acquisition was completed on August 9, 2019, at an aggregate purchase price of approximately $272 million. Accounting for Aerohive's net cash balance of $62 million at the end of its fiscal first quarter, the deal is equivalent to an enterprise value of $210 million.

References

External links

* {{Authority control Companies listed on the New York Stock Exchange 2006 establishments in California Companies based in Sunnyvale, California Technology companies established in 2006 Multinational companies headquartered in the United States Networking companies of the United States Technology companies based in the San Francisco Bay Area 2019 mergers and acquisitions

History

See also

References

External links