Extreme Networks CEO Ed Meyercord said acquiring Avaya’s Networking business will generate $200 million in annual revenue.
Extreme Networks is set to acquire Avaya’s Networking business for $100 million just months after Avaya said it was seeking Chapter 11 bankruptcy protection.
Extreme Networks CEO Ed Meyercord said he expects Avaya’s networking business to generate over $200 million in annual revenue for his company.
“The addition of Avaya’s networking business is consistent with our growth strategy and will broaden Extreme’s enterprise solutions capabilities by complementing our product portfolio across our vertical markets,” said Meyercord, in a statement. “We expect the Avaya business to generate over $200 million in annual revenue, increase our market share and offer new opportunities for our customers. ”
[Related: CRN Exclusive: Extreme Networks To Launch New SMB Switches ]
In January, Avaya filed for Chapter 11 bankruptcy protection , saying it needed to restructure its balance sheet to better position itself for the future.
To facilitate the restructuring, Avaya filed voluntary petitions under Chapter 11 of the U.
