"This is an exciting day for Extreme and a strategic milestone for our company that further enables us to deliver the end-to-end networking solutions and services enterprise customers across our target vertical markets need to run their businesses," said
"As I've worked with the leadership teams of both companies throughout this process, it's been clear this is the right move for all of us - one that will accelerate growth for both
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.
"Avaya's networking business is a strategic fit for
Extreme continues to anticipate the transaction will be accretive to cash flow and earnings for its fiscal year 2018, which began on
Forward Looking Statements
Except for the historical information contained herein, the statements in this release, including those concerning Extreme's 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 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 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.
View original content with multimedia:http://www.prnewswire.com/news-releases/extreme-networks-completes-acquisition-of-the-networking-business-from-avaya-inc-300488672.html
News Provided by Acquire Media