Cisco (CSCO) to Acquire Cloud Networking Company Meraki in $1.2B Deal

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Cisco (CSCO) / Meraki Deal Not Meaningful Threat to Aruba (ARUN) - Analyst

November 20, 2012 10:17 AM EST

Following news of Cisco (Nasdaq: CSCO) will acquire Meraki for $1.3 billion, Needham & Company maintained a Buy on Aruba Networks (NASDAQ: ARUN) with a price target of $23.00

Commenting on developments, analyst Richard Valera said, "We continue to like Aruba... More