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|Extreme Networks Completes Acquisition of the Wireless LAN Business from Zebra Technologies|
|Posted: Mon Oct 31, 2016 02:34:35 PM|
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.