SAN JOSE, Calif., Oct. 31, 2016 /PRNewswire/ -- Extreme
Networks, Inc. (NASDAQ: EXTR) announced today that it has completed
its acquisition of Zebra Technology Corporation's (NASDAQ: ZBRA)
wireless LAN (WLAN) business. The acquisition of the WLAN business
strengthens and expands Extreme's end-to-end, wired and
wireless software-driven networking solutions and complements its
vertical market focus.
"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 $9.4 billion in one of the fastest growing
segments of the networking industry and expands our bench with
talented key management, experienced wireless industry experts and
partners, and a strong base of blue-chip customers."
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.
"Zebra Technologies' wireless LAN business is a strategic fit
for Extreme Networks that strengthens Extreme's position in the
enterprise campus market," said Nolan
Greene, senior research analyst, IDC. "The acquired
technology complements Extreme's existing portfolio of
software-driven networking solutions and provides new opportunities
for its entire ecosystem of partners, distributors, customers and
employees. The enterprise WLAN market is one of the fastest growing
networking segments globally and Extreme is solidifying its role as
a major player in the marketplace through this deal."
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.
Forward-Looking Statements
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/.
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
20,000-plus 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,
education, government, healthcare, manufacturing, retail,
transportation, logistics and hospitality. Founded in 1996, Extreme
is headquartered in San Jose, California. For more
information, visit Extreme Networks' 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. All other names are the property of their respective
owners.
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SOURCE Extreme Networks, Inc.