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.
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.