Aerohive Networks

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]

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

In 2012, Aerohive was listed on The Wall Street Journal's 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. "Archived copy". Archived from the original on 2017-08-31. Retrieved 2017-08-31.CS1 maint: archived copy as title (link)
  2. "AEROHIVE NETWORKS INC".
  3. "Aerohive Networks, Inc. Profile".
  4. Ludwig, Sean (September 11, 2012). "Cloud-based networking startup Aerohive Networks readies for IPO with $22.5M funding grab". VentureBeat. Retrieved 28 November 2012.
  5. Rao, Leena (March 28, 2011). "Cloud-Based Networking Company Aerohive Networks Raises $25 Million". TechCrunch. Retrieved 28 November 2012.
  6. "Looking for the 'Next Big Thing'? Ranking the Top 50 Start-Ups".
  7. "Deals of the Day: Jos. A. Bank Buying Eddie Bauer".
  8. "Aerohive networks Files for $75 Million IPO".
  9. Narcisi, Gina (2019-08-09). "Extreme Networks Closes $210 Million Aerohive Acquisition". CRN. Retrieved 2019-08-10.
  10. "Extreme Networks Completes Acquisition of Aerohive Networks". finance.yahoo.com. Retrieved 2019-08-10.
  11. "Extreme Networks Completes Acquisition of Aerohive Networks". Extreme Networks, Inc. Retrieved 2019-08-10.
  12. "Aerohive Adds $20 Million". The PE Hub Network. 30 July 2007.
  13. "Aerohive Networks Secures $23,500,000 Series C Financing Round". XConomy. 23 March 2010.
  14. Berndtson, Chad (5 August 2010). "Aerohive Gains Partners, And Finally, A Buzz in WLAN Channel". CRN.
  15. Berndston, Chad (20 November 2012). "Cisco Competitors Say Meraki Move Makes Them More Attractive". CRN Magazine. Archived from the original on 27 November 2012. 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. Retrieved 30 November 2012.
  17. Wexler, Joanie (18 January 2001). "Aerohive Buys Cloud Startup Pareto Networks". Network World.
  18. Shawber, Gloria Wang (12 October 2012). "Fast Private: Aerohive is all the buzz with Wi-Fi solutions". San Jose Business Journal.
  19. Novet, Jordan (28 March 2014). "Hardware Company Aerohive Has a Bouncy IPO Today With Ups & Downs". VentureBeat.
  20. Bent, Kristen (28 October 2014). "Aerohive Networks Team With Apple To Drive Obama's ConnectED Program". CRN.
  21. Schaffhauser, Dian (26 May 2015). "Barracuda and Aerohive Bolster Wireless Security Product Ties". The Journal.
  22. Haranas, Mark (17 September 2015). "Juniper Forms Alliance With Aerohive; Says Aruba Partnership Still Intact". CRN.
  23. Meyer, Leila (20 January 2016). "Aerohive Debuts HiveSchool". The Journal.
  24. "Aerohive Makes Synnex Exclusive Distributor of WiFi Portfolio to U.S., Canada". Cabling Installation and Maintenance. 18 February 2016.
  25. Haranas, Mark (28 April 2016). "Dell, Aerohive Partnership 'Smells' Like an Acquisition Ahead, Partners Say".
  26. Kerravala, Zeus (13 September 2016). "Aerohive Introduces the Software-Defined LAN". Network World.
  27. Wen, Howard (1 October 2018). "802.11ax preview: Access points and routers that support the Wi-Fi 6 protocol on tap". NetworkWorld.
  28. Irei, Alissa (27 September 2018). "Aerohive's Atom, 802.11ax access points win innovation award". TechTarget.
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