Extreme Networks set for $1bn revenue as Brocade deal closes

Brocade deal follows moves for parts of Zebra and Avaya businesses

Extreme Networks has completed its takeover of Brocade's networking business in a move which it says will take it over the $1bn revenue threshold.

The acquisition, first announced in March, came after Broadcom acquired Brocade but confirmed plans to offload its networking business.

Extreme Networks meanwhile has been on an acquisition streak, also snapping up Zebra's LAN business and Avaya's networking arm.

Following the completion of the Brocade deal, Extreme Networks CEO Ed Meyercord: "This is an exciting day for Extreme as we have now significantly strengthened our position in the expanding high-end datacentre market with the industry leading solution for enterprise customers.

"Through a series of synergistic acquisitions, Extreme is now a top player in the enterprise networking industry and expects to generate over $1bn in annual revenues.

"Today's announcement is not only a significant milestone for our growth strategy, but it also allows us to assist more customers around the globe with end-to-end software-driven solutions to drive their digital transformation initiatives."

Extreme Networks' share price has risen over 130 per cent since the start of the year, giving it a market cap of $1.3bn.

Back in June Extreme Networks VP Norman Rice told CRN that he expects the vendor to continue its acquisition streak and build on the Zebra, Avaya and Brocade deals.