San Jose-based networking leader Extreme Networks has announced that it has completed the acquisition of enterprise cloud networking company Aerohive Networks. With the 2nd largest cloud management platform onboard Extreme Networks will now have a broader solutions portfolio.
According to the terms of the transaction, Extreme Networks acquired all the outstanding shares of Aerohive at $4.45 per share in cash. This makes the aggregate purchase to be approximately $272 million. The deal’s enterprise value comes in at $210 million.
The acquisition is in line with Extreme Networks’ ambition of delivering the best networking solutions right from edge through the cloud data center which will be backed up with 100% insourced technical support.
In a letter to its customers, Ed Meyercord, President and CEO of Extreme Networks wrote that the company was thrilled to close the acquisition. “Extreme is now a leader in cloud-managed networking with the highest performance next-gen cloud platform in the industry! We are excited about the new capabilities we will be able to offer all of our valued customers.”
Extreme Networks’ customers can rejoice as Aerohive will bring its network based access control (NAC) which will complement the former’s on-premises based ExtremeControl product. The customers will soon be able to choose either of the deployment models or even go for a hybrid configuration.