Deal snapshot: EXTREME NETWORKS TO BUY BANKRUPT AVAYA'S NETWORKING BUSINESS FOR USD 100M.
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.
Sector: IT/Online Services
Target: Avaya/ networking business
Buyer: Extreme Networks, Inc
Vendor: Avaya Inc
Deal size in USD: 100m
Type: Corporate Acquisition
Buyer advisor: , ,
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|Publication:||M & A Navigator|
|Date:||Mar 8, 2017|
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