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Trader Recap: Extreme Networks, Inc. (NASDAQ: EXTR)

Extreme Networks, Inc. (NASDAQ: EXTR) declared recently all the conditions to close have been met and its acquisition of the Avaya Networking business is planned for Friday, July 14, 2017.
“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 anticipates to generate over $200 million in annualized revenue from the attained networking assets from Avaya.

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