Company:Aerohive Networks

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Aerohive Networks, Inc.
TypePublic
NYSE: HIVE
Russell 2000 Index component
Industryinformation technology
Founded2006[1]
FounderChangming Liu
Defunct2019
Headquarters
Milpitas, California
,
United States
Key people
David Flynn (CEO)
ProductsCloud-Managed Networking, AI and ML powered management, Wi-Fi access points, switches, branch routers, and application services
RevenueIncrease US$169.8 million (2016)[2]
Number of employees
460 (2018)[3]
Websiteaerohive.com

Aerohive Networks was an American multinational computer networking equipment company headquartered in Milpitas, California, with 17 additional offices worldwide.[4] The company was founded in 2006 and provided wireless networking to medium-sized and larger businesses.[4][5]

In 2012, Aerohive was listed on The Wall Street Journal list of "Top 50 Start-Ups."[6] The company raised around $105 million in venture capital funding before undergoing an IPO in March 2014.[7][8]

On June 26, 2019, Extreme Networks announced its intent to acquire Aerohive for a purchase price of approximately $272 million. The acquisition closed on August 9, 2019.[9][10][11]

History

Aerohive was founded in 2006 by Changming Liu. That same year, the company raised $4 million in series A round funding. In July 2007, the company raised an additional $20 million in series B round funding led by Kleiner Perkins Caufield & Byers.[12] Aerohive completed a series C round of funding, raising $23.5 million to expand its sales and marketing strategy in March 2010.[13][14] In 2011, the company acquired Pareto Networks, a cloud-based routing service, the acquisition allowed Aerohive to integrate Pareto's cloud management technology into its existing offerings.[15][16][17] 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.[18] The company raised an additional $10 million in funding as it prepared to go public, in 2013.[8] On March 28, 2014, the company was listed on the New York Stock Exchange under the HIVE symbol.[19] Aerohive joined Barack Obama's ConnectED initiative in October 2014, when it partnered with Apple Inc. and provided wireless connectivity to the schools receiving Apple products.[20]

Aerohive announced that its devices would operate more seamlessly with Barracuda Networks security products in May 2015.[21] In September 2015, the company announced a technology alliance with Juniper Networks.[22] 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 web browser.[23] 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.[24] In April 2016, Aerohive announced a strategic partnership with the technology company Dell.[25]

In September 2016, the company released SD-LAN, a software-defined network that functions on local area networks.[26] And then in August 2018, the company shipped the first family of enterprise-class 802.11ax access points (Wi-Fi 6), along with the first enterprise-class pluggable wireless access point (ATOM AP630).[27][28]

On June 26, 2019 Extreme Networks 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.[11][9]

See also

References

  1. ↑ "Aerohive Networks Reports Fourth Quarter and Fiscal Year 2016 Results Record Revenue for Software and Subscriptions Business Growing 31% in 2016 | Aerohive Networks". https://www.aerohive.com/company/press-releases/2017/Aerohive-Networks-Reports-Fourth-Quarter-and-Fiscal-Year-2016-Results-Record-Revenue-for-Software-and-Subscriptions-Business-Growing-31-in-2016.html. 
  2. ↑ "AEROHIVE NETWORKS INC". https://www.thestreet.com/quote/HIVE/details/earnings-estimates.html. 
  3. ↑ "Aerohive Networks, Inc. Profile". https://finance.yahoo.com/quote/HIVE/profile?p=HIVE. 
  4. ↑ 4.0 4.1 Ludwig, Sean (September 11, 2012). "Cloud-based networking startup Aerohive Networks readies for IPO with $22.5M funding grab". VentureBeat. https://venturebeat.com/2012/09/11/aerohive-funding-ipo/. Retrieved 28 November 2012. 
  5. ↑ Rao, Leena (March 28, 2011). "Cloud-Based Networking Company Aerohive Networks Raises $25 Million". TechCrunch. https://techcrunch.com/2011/03/28/cloud-based-networking-company-aerohive-networks-raises-25-million/. Retrieved 28 November 2012. 
  6. ↑ "Looking for the 'Next Big Thing'? Ranking the Top 50 Start-Ups". Wall Street Journal. 27 September 2012. https://www.wsj.com/articles/SB10000872396390444813104578018940187057924. 
  7. ↑ "Deals of the Day: Jos. A. Bank Buying Eddie Bauer". http://fortune.com/2014/02/14/deals-of-the-day-jos-a-bank-buying-eddie-bauer/. 
  8. ↑ 8.0 8.1 "Aerohive networks Files for $75 Million IPO". 14 February 2014. https://techcrunch.com/2014/02/13/aerohive-networks-files-for-75-million-ipo/. 
  9. ↑ 9.0 9.1 Narcisi, Gina (2019-08-09). "Extreme Networks Closes $210 Million Aerohive Acquisition". https://www.crn.com/news/networking/extreme-networks-closes-210-million-aerohive-acquisition. 
  10. ↑ "Extreme Networks Completes Acquisition of Aerohive Networks" (in en-US). https://finance.yahoo.com/news/extreme-networks-completes-acquisition-aerohive-124500134.html. 
  11. ↑ 11.0 11.1 "Extreme Networks Completes Acquisition of Aerohive Networks" (in en). https://investor.extremenetworks.com/news-releases/news-release-details/extreme-networks-completes-acquisition-aerohive-networks. 
  12. ↑ "Aerohive Adds $20 Million". The PE Hub Network. 30 July 2007. https://www.pehub.com/2007/07/aerohive-adds-20-million/. 
  13. ↑ "Aerohive Networks Secures $23,500,000 Series C Financing Round". XConomy. 23 March 2010. http://www.xconomy.com/san-francisco/2010/03/23/aerohive-networks-secures-23500000-series-c-financing-round/. 
  14. ↑ Berndtson, Chad (5 August 2010). "Aerohive Gains Partners, And Finally, A Buzz in WLAN Channel". CRN. http://www.crn.com/news/networking/226600100/aerohive-gains-partners-and-finally-a-buzz-in-wlan-channel.htm. 
  15. ↑ Berndston, Chad (November 20, 2012). "Cisco Competitors Say Meraki Move Makes Them More Attractive". CRN Magazine. http://www.crn.com/news/networking/240142438/cisco-competitors-say-meraki-move-makes-them-more-attractive.htm. Retrieved 28 November 2012. 
  16. ↑ "The Daily Start-Up: Aerohive Buzzes With $22.5M Led by IVP Amid Sweet Mobile Connectivity Demand". The Wall Street Journal. September 12, 2012. https://blogs.wsj.com/venturecapital/2012/09/12/the-daily-start-up-aerohive-buzzes-with-22-5m-led-by-ivp-amid-sweet-mobile-connectivity-demand/. Retrieved 30 November 2012. 
  17. ↑ Wexler, Joanie (18 January 2001). "Aerohive Buys Cloud Startup Pareto Networks". Network World. http://www.networkworld.com/article/2198882/wireless/aerohive-buys-cloud-startup-pareto-networks.html. 
  18. ↑ Shawber, Gloria Wang (12 October 2012). "Fast Private: Aerohive is all the buzz with Wi-Fi solutions". San Jose Business Journal. http://www.bizjournals.com/sanjose/print-edition/2012/10/12/fast-private-aerohive-is-all-the-buzz.html?page=all. 
  19. ↑ Novet, Jordan (28 March 2014). "Hardware Company Aerohive Has a Bouncy IPO Today With Ups & Downs". VentureBeat. https://venturebeat.com/2014/03/28/aerohive-goes-public/. 
  20. ↑ Bent, Kristen (28 October 2014). "Aerohive Networks Team With Apple To Drive Obama's ConnectED Program". CRN. http://www.crn.com/news/networking/300074611/aerohive-networks-teams-with-apple-to-drive-obamas-connected-program.htm. 
  21. ↑ Schaffhauser, Dian (26 May 2015). "Barracuda and Aerohive Bolster Wireless Security Product Ties". The Journal. https://thejournal.com/articles/2015/05/26/barracuda-and-aerohive-bolster-wireless-security-product-ties.aspx. 
  22. ↑ Haranas, Mark (17 September 2015). "Juniper Forms Alliance With Aerohive; Says Aruba Partnership Still Intact". CRN. http://www.crn.com/news/networking/300078148/juniper-forms-alliance-with-aerohive-says-aruba-partnership-still-intact.htm. 
  23. ↑ Meyer, Leila (20 January 2016). "Aerohive Debuts HiveSchool". The Journal. https://thejournal.com/articles/2016/01/20/aerohive-debuts-hiveschool.aspx. 
  24. ↑ "Aerohive Makes Synnex Exclusive Distributor of WiFi Portfolio to U.S., Canada". Cabling Installation and Maintenance. 18 February 2016. http://www.cablinginstall.com/articles/2016/02/synnex-aerohive-wifi-distributor.html. 
  25. ↑ Haranas, Mark (28 April 2016). "Dell, Aerohive Partnership 'Smells' Like an Acquisition Ahead, Partners Say". http://www.crn.com/news/networking/300080502/dell-aerohive-partnership-smells-like-an-acquisition-ahead-partners-say.htm. 
  26. ↑ Kerravala, Zeus (13 September 2016). "Aerohive Introduces the Software-Defined LAN". Network World. http://www.networkworld.com/article/3119598/lan-wan/aerohive-introduces-the-software-defined-lan.html. 
  27. ↑ Wen, Howard (1 October 2018). "802.11ax preview: Access points and routers that support the Wi-Fi 6 protocol on tap". NetworkWorld. https://www.networkworld.com/article/3309439/80211ax-preview-access-points-and-routers-that-support-the-wi-fi-6-protocol-on-tap.html. 
  28. ↑ Irei, Alissa (27 September 2018). "Aerohive's Atom, 802.11ax access points win innovation award". TechTarget. https://searchnetworking.techtarget.com/feature/Aerohives-Atom-80211ax-access-points-win-innovation-award. 

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