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Deal snapshot: EXTREME NETWORKS TO BUY BANKRUPT AVAYA'S NETWORKING BUSINESS FOR USD 100M.

MANews-(C)2009-2017

US-based networking solutions company Extreme Networks, Inc. (NASDAQ: EXTR) has entered into an asset purchase agreement with bankrupt US-based software firm Avaya Inc. to acquire its networking business, the company said.

Under the terms of the agreement, the assets of Avaya's networking business unit will be sold to Extreme for approximately USD 100m, in accordance with the terms and conditions of the asset purchase agreement. Avaya announced it filed voluntary petitions under chapter 11 of the US Bankruptcy Code on January 19, 2017.

Country: USA

Sector: IT/Online Services

Target: Avaya/ networking business

Buyer: Extreme Networks, Inc

Vendor: Avaya Inc

Deal size in USD: 100m

Type: Corporate Acquisition

Financing: Cash

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Date:Mar 8, 2017
Words:118
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