NEW YORK, April 1, 2010 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), the world's largest exchange company, announced that the trading of Meru Networks, Inc. commenced Wednesday, March 31 on The NASDAQ Stock Market. Meru Networks trades under the ticker symbol (MERU).
"We are proud to welcome Meru, a pioneer and leader in the wireless technology industry as the 15th IPO this year listed on NASDAQ," said Bruce Aust, Executive Vice President, Corporate Client Group, NASDAQ OMX.
"Meru joins 684 technology companies listed on The NASDAQ Stock Market, which represents 81% of publicly traded tech companies in the U.S. markets," he added.
Meru Networks, Inc. is among two other U.S. technology-based companies, Financial Engines (FNGN) and QuinStreet Inc. (QNST), to list on the NASDAQ recently.
To celebrate the special occasion, Meru Networks, Inc. President and CEO, Ihab Abu-Hakima, President and CEO joined by company executives and employees rang the opening bell on March 31.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,700 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.
About Meru Networks:
Founded in 2002, Meru Networks provides a virtualized wireless LAN solution that cost-effectively optimizes the enterprise network to deliver the performance, reliability, predictability and operational simplicity of a wired network, with the advantages of mobility. Meru's solution represents an innovative approach to wireless networking that utilizes virtualization technology to create an intelligent and self-monitoring wireless network, and enables enterprises to migrate their business-critical applications from wired networks to wireless networks, and become all-wireless enterprises. Meru's solutions have been adopted in all major industry vertical markets, including Fortune 500 enterprises, healthcare, education, retail, manufacturing, hospitality and government. Meru is headquartered in Sunnyvale, Calif., and has operations in the Americas, Europe, the Middle East and Asia Pacific. For more information, visit www.merunetworks.com or call (408) 215-5300.
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CONTACT: The NASDAQ OMX Group, Inc. Media Contact: Jolene Libretto (646) 441-5220 Jolene.Libretto@nasdaqomx.com