Meru Networks, which provides wireless LAN solutions to small and large enterprises, announced terms for its IPO on Friday. The Sunnyvale, CA-based company plans to raise $61 million by offering 4.4 million shares at a price range of $13-$15. At the mid-point of the proposed range, Meru Networks will command a market value of $209 million. Meru Networks, which was founded in 2002 and booked $69 million in sales last year, plans to list on the NASDAQ under the symbol MERU. BofA Merrill Lynch is the lead underwriter on the deal, for which timing was not disclosed.
