"This exciting acquisition solidifies Extreme's position as the third largest provider in our target enterprise campus market and creates numerous growth opportunities for expanded solutions and services offerings for our customers," said Ed Meyercord, president and CEO of Extreme Networks. "The addition of the WLAN assets increases our total addressable market to
Extreme acquired customers, personnel and technology assets from Zebra. The acquisition positions Extreme as a leader across the hospitality, education, healthcare, manufacturing and state and local government markets. With the addition of industry thought leaders, WiNG Wi-Fi technology, leading wireless security software, a next generation guest platform, a new managed services capability, and a strong customer base, Extreme extends into new verticals such as retail, transportation and logistics, and broader hospitality, creating additional opportunities for growth.
As previously announced, Extreme expects the transaction to be accretive to cash flow and earnings for its fiscal year 2017 and expects to generate over $115 million in annualized revenue from the acquired WLAN assets.
Except for the historical information contained herein, the matters set forth in this press release, including without limitation statements as to the features, performance, and benefits of Extreme Networks products including products acquired as part of the acquisition and the anticipated benefits of the acquisition of Zebra's WLAN business 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 hereof. Because such statements deal with future events, they are subject to risks and uncertainties and actual results may differ materially from those anticipated or projected. These risks and uncertainties include the risk that Extreme may not realize the anticipated benefits of the acquisition or that such benefits may take longer to realize than anticipated, and other risks associated with the acquisition, such as the ability to successfully integrate the acquired technologies and operations and the actual results of their use in different environments, the potential for unexpected liabilities and Extreme Networks' ability to retain customer relationships and key employees and Extreme Networks' ability to invest in the business on a going forward basis. Extreme Networks undertakes no obligation to update the forward-looking information in this release. Other important factors that could cause actual results to differ materially are contained in the Company's 10-Qs and 10-Ks that are on file with the Securities and Exchange Commission. http://www.sec.gov/.
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