For those who came in late, the acquisition was first announced in March, came after Broadcom acquired Brocade but wanted to off-load its networking business. Extreme Networks meanwhile wrote a cheque for Zebra’s LAN business and Avaya’s networking bits.
Extreme Networks CEO Ed Meyercord said: “This is an exciting day for Extreme as we have now significantly strengthened our position in the expanding high-end datacentre market with the industry leading solution for enterprise customers. Through a series of synergistic acquisitions, Extreme is now a top player in the enterprise networking industry and expects to generate over $1bn in annual revenues.”
He added that the announcement was not only a significant milestone for our growth strategy, but it also allows Extreme to assist more customers around the globe with end-to-end software-driven solutions to drive their digital transformation initiatives.
Extreme Networks’ share price has risen over 130 percent since the start of the year, giving it a market cap of $1.3 billion.