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.
"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," said Ed Meyercord, President and CEO of Extreme Networks.
"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," said Kevin Kennedy, President and CEO of Avaya.
"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.