Aerohive Networks, Inc. was an American multinational computer networking equipment company headquartered in

Milpitas, California Milpitas (Spanish for or little cornfields) is a city in Santa Clara County, California, part of Silicon Valley and the broader San Francisco Bay Area. Located on the eastern shore of San Francisco Bay, it is bordered by San Jose, California, S ...

, 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 allows homes, telecommunications networks, and business installations to avoid the costly process of introducing cables in ...

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 An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

in March 2014. On June 26, 2019,

Extreme Networks Extreme Networks, Inc. is an American networking company based in Morrisville, North Carolina. Extreme Networks designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network managem ...

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 is the name typically given to a company's first significant round of venture capital financing. It can be followed by the word round, investment or financing. The name refers to the class of preferred stock sold to investors in excha ...

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 entrepreneur ...

. 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, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

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. Apple Inc. is an American multinational corporation and technology company headquartered in Cupertino, California, in Silicon Valley. It is best known for its consumer electronics, software, and services. Founded in 1976 as Apple Comput ...

and provided wireless connectivity to the schools receiving Apple products. Aerohive announced that its devices would operate more seamlessly with Barracuda Networks 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 Router (computing), routers, Network switch, switches, network management so ...

. 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 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, iOS, iPadOS, an ...

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 Inc. is an American technology company that develops, sells, repairs, and supports personal computers (PCs), Server (computing), servers, data storage devices, network switches, software, computer peripherals including printers and webcam ...

. 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, campus, or building, and has its network equipment and interconnects locally managed. LANs facilitate the distribution of da ...

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

Wi-Fi 6 Wi-Fi 6, or IEEE 802.11ax, is an IEEE standard from the Wi-Fi Alliance, for wireless networks (WLANs). It operates in the 2.4 GHz and 5 GHz bands, with an extended version, Wi-Fi 6E, that adds the 6 GHz band. It is an upgrade from Wi-Fi 5 ( ...

), along with the first enterprise-class pluggable

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

(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 formerly 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 Defunct computer companies of the United States Defunct computer hardware companies Networking hardware companies

History

See also

References

External links