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.
