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Meru hopes for growth in SDN, SMB markets

Meru networks has reported total revenues for the third quarter of 2014 at $25.0m, up 2.5% from the third quarter of 2013. Product revenues for the third quarter of 2014 were $20.4m, up 4.0% from the $19.6m in the third quarter of 2013. The net loss as reported in accordance with GAAP was $3.3m for the quarter, compared to a net loss of $3.6m in the same quarter in 2013.

Bulgarian developer acquired by Progress

US-based software and platform house Progress has entered into a definitive agreement to acquire privately-held Bulgarian provider of application development tools Telerik for $262.5m. Telerik is headquartered in Sofia, but has over 200,000 paying developer customers worldwide, including over 450 of the mainly US Fortune 500. Telerik tools enable developers to create cross-platform user experiences across Cloud, web, mobile and desktop applications.