Jul 11, 2017

Extreme Networks Acquisition of Avaya Networking Expected to Close on Friday July 14th

SAN JOSE, Calif., July 11, 2017 /PRNewswire/ -- Extreme Networks, Inc. (NASDAQ: EXTR) announced today all the conditions to close have been met and its acquisition of the Avaya Networking business is scheduled for Friday, July 14, 2017.

Extreme Networks Logo (PRNewsFoto/Extreme Networks) (PRNewsFoto/Extreme Networks)

"We are excited to clear this final milestone on the path to acquiring the Avaya Networking business," said Ed Meyercord, President and CEO of Extreme Networks. "The addition of Avaya Networking's teams, technology and customers strengthens Extreme's position in the marketplace and gives rise to Extreme becoming the only networking provider exclusively focused on delivering solutions to the enterprise from the data center to the wireless edge."

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

Forward-Looking Statements 
Except for the historical information contained herein, the statements in this release, including those concerning Extreme's ability to close on its acquisition of Avaya's networking assets, 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 close the Avaya transaction due to external market factors or otherwise; 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.

Media Contact:
Jennifer Grabowski
Racepoint Global

Investor Relations Contact:
Laurie Little
The Piacente Group, Inc.
212-481-2050 ext. 403

Analyst Relations Contact:
Steve O'Brien
Extreme Networks


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SOURCE Extreme Networks, Inc.

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