8/102 sources · 2 publishersUpdated Nov 7, 21:36 UTC
Extreme Networks Explores Sale After Acquisition Interest
Extreme Networks is exploring a sale after receiving acquisition interest and has engaged an investment bank, according to people familiar with the matter. Fortinet, Cisco Systems and NetApp have been identified as possible strategic buyers. Extreme shares rose 18.19% on November 6 to $24.88, giving the company a market value of about $3.3 billion.
Why it matters
A potential sale could create a transaction opportunity for Extreme Networks shareholders and strategic expansion possibilities for the named buyers, but no buyer, terms or agreement have been announced. The discussions remain preliminary and may not result in a deal.
Key facts
- 1Extreme Networks began evaluating a sale after receiving acquisition approaches and is working with an investment bank on the process. ibtimes.com.au
- 2Extreme Networks shares increased $3.83, or 18.19%, to $24.88, while the company’s market value reached about $3.3 billion. ibtimes.com.au
- 3Fortinet, Cisco Systems and NetApp were identified as possible strategic buyers, although no company has confirmed a formal offer. the420.in
- 4Extreme Networks has not announced an acquisition agreement, and the discussions remain at a preliminary stage. the420.in
Open questions
- The reported sale process is based on people familiar with the discussions, and it is unknown whether negotiations will produce a transaction.
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.