Extreme Networks Completes Acquisition of Brocade's Data Center Networking Business
"This is an exciting day for Extreme as we have now significantly strengthened our position in the expanding high-end data center market with the industry leading solution for enterprise customers," said
With the close of this acquisition, Extreme acquires customer relationships, personnel and technology assets from Brocade including the SLX, VDX, MLX, CES, CER, Workflow Composer, Automation Suites, and certain other data center related products. The acquisition enhances Extreme's data center solutions used by enterprises and service providers across industries such as education, hospitality, healthcare, retail, transportation and logistics, manufacturing and government.
"Our strategic vision has been closely aligned with
Extreme continues to anticipate the transaction will be accretive to cash flow and earnings for its fiscal year 2018, which began on
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Forward Looking Statements
Except for the historical information contained herein, the statements in this release, including those concerning Extreme's acquisition of the Brocade assets, its business outlook, future financial and operating results, including Extreme's expectations for projected annual revenues, annualized revenue from the acquired assets and the transaction's accretive value, and Extreme's 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 Brocade 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.
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