The company initially planned to offer 7.5 million shares at a price range of $9 to $11. Shares opened at $8.95 before surging to $9.88. Shares then reversed course and traded as low as $8.81, before battling back and trading slightly above its debut price.
Description
Aerohive Networks, Inc. has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s cloud-managed mobile networking platform consists of four components: Cloud Services Platform, HiveOS operating system, client management software and its portfolio of hardware products. Its Cloud Services Platform delivers cloud-based network management and mobility applications giving end-customers a single and contextual view of the mobile-centric network edge. Its cloud-based management software can be purchased as a public cloud software-as-a-service or as an on-premise private cloud instance. The Company’s HiveOS operating system is a mobility-optimized network operating system that implements a suite of distributed control protocols and policy enforcement engines that together eliminate the need for controllers. Its client management software includes cloud-managed agents, profiles and certificates.
