SAN JOSE, Calif., July 17, 2017 /PRNewswire/ -- Extreme
Networks, Inc. (NASDAQ: EXTR) announced today that it has completed
its acquisition of Avaya, Inc.'s ("Avaya") networking business. The
acquisition supports the company's growth strategy to lead the
enterprise networking market with end-to-end software-driven
solutions for enterprise customers from the data center to the
wireless edge.
"This is an exciting day for Extreme and a strategic milestone
for our company that further enables us to deliver the end-to-end
networking solutions and services enterprise customers across our
target vertical markets need to run their businesses," said
Ed Meyercord, President and CEO of
Extreme Networks. "In addition to acquiring networking assets that
complement and strengthen our capabilities, we are expanding our
bench of talented and experienced employees, partners and
networking customers. We've already seen great participation from
new and existing partners and customers during our recent closing
roadmap webinar, which is a key indicator of the mutual excitement
for this deal."
"As I've worked with the leadership teams of both companies
throughout this process, it's been clear this is the right move for
all of us – one that will accelerate growth for both Extreme
Networks and Avaya," said Kevin
Kennedy, President and CEO of Avaya. "We believe the
addition of our complementary, award-winning wired, WLAN and Fabric
technology will not only strengthen Extreme Networks' competitive
position but also create strategic opportunities for customers and
partners. We look forward to continuing Avaya's focus on growth
within our core, industry-leading Unified Communications and
Contact Center solutions."
As part of this transaction, Extreme acquired customers,
personnel and technology assets from Avaya. The acquisition
strengthens Extreme's position as a leader across the
education, healthcare and government markets with the addition of
Avaya's award-winning fabric technology for highly secure,
simplified access, management and control. The acquisition also
strengthens Extreme's switching portfolio, including a new family
of high performance modular switches, software tools and IoT
technology.
"Avaya's networking business is a strategic fit for Extreme
Networks that strengthens the company's position in the enterprise
market," said Zeus Kerravala,
Analyst and Founder of ZK Research. "Avaya's strength in the core
and campus perfectly complements Extreme's market focus.
Additionally the acquisition is a positive move for Extreme, Avaya
and both customer bases as it creates a company with best-in-class
products that span the entire enterprise network."
Extreme continues to anticipate the transaction will be
accretive to cash flow and earnings for its fiscal year 2018, which
began on July 1, and expects to
generate over $200 million in
annualized revenue from the acquired networking assets from
Avaya.
Additional Resources
- Extreme Acquisitions & Integrations Page
- Extreme Networks & Avaya IP Networking Strategy Webinar –
Part II
Forward Looking Statements
Except for the
historical information contained herein, the statements in this
release, including those concerning Extreme's business outlook,
future financial and operating results, and overall future
prospects are "forward-looking statements" within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements speak only as
of the date of this release. Actual results or events could differ
materially from those anticipated in those forward-looking
statements as a result of certain factors, including: our ability
to successfully integrate the Avaya networking business into the
current Extreme business; failure to achieve targeted revenues and
forecasted demand from end customers; a highly competitive business
environment for network switching equipment; the possibility that
we might experience delays in the development or introduction of
new technology and products; customer response to our new
technology and products; and a dependency on third parties for
certain components and for the manufacturing of our
products.
More information about potential factors that could affect
Extreme's business and financial results is included in Extreme's
filings with the U.S. Securities and Exchange Commission,
including, without limitation, under the captions: "Management's
Discussion and Analysis of Financial Condition and Results of
Operations," and "Risk Factors." Except as required under
the U.S. federal securities laws and the rules and
regulations of the U.S. Securities and Exchange
Commission, Extreme Networks disclaims any obligation to
update any forward-looking statements after the date of this
release, whether as a result of new information, future events,
developments, changes in assumptions or otherwise.
About Extreme Networks
Extreme Networks,
Inc. (EXTR) delivers software-driven networking solutions that
help IT departments everywhere deliver the ultimate business
outcome: stronger connections with customers, partners and
employees. Wired to wireless, desktop to data center, on premise or
through the cloud, we go to extreme measures for our customers in
more than 80 countries, delivering 100% insourced call-in technical
support to organizations large and small, including some of the
world's leading names in business, hospitality, retail,
transportation and logistics, education, government, healthcare and
manufacturing. Founded in 1996, Extreme is headquartered
in San Jose, California. For more information, visit
Extreme's website or call 1-888-257-3000.
Extreme Networks and the Extreme Networks logo are
either trademarks or registered trademarks of Extreme
Networks, Inc. in the United States and/or other
countries. Other trademarks are the property of their
respective owners.
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SOURCE Extreme Networks, Inc.