Extreme Networks (NASDAQ: EXTR ) will soon boast a new asset in its portfolio. The company announced it has reached an agreement to fully acquire privately held peer firm Enterasys Networks. The price is $180 million in cash.
Extreme considers Enterasys, which provides network infrastructure and security solutions, to be a highly complementary enterprise. In the press release announcing the acquisition, Extreme said it anticipates that within two years or so its ExtremeXOS network operating system "will be extended to incorporate additional features that are available in the Enterasys network operating systems and fully support both hardware platforms."
According to Extreme, Enterasys takes in roughly $330 million in annual revenues, and has a workforce of around 900 people. The purchase is expected to be immediately accretive to Extreme's results.