March 29, 2017 / 10:00 PM / 4 months ago

BRIEF-Extreme Networks to acquire Brocade's data center networking business

1 Min Read

March 29 (Reuters) - Extreme Networks Inc -

* Extreme Networks to acquire Brocade's data center networking business

* Brocade's data center networking business will be sold to extreme for $55 million in cash

* Deal for $55 million in cash

* Extreme expects acquisition to be accretive to cash flow and earnings for its fiscal year 2018

* Acquisition is expected to close within 60 days following closing of Broadcom's acquisition of Brocade.

* Extreme expects to fund transaction with funds resulting from an anticipated amendment increasing its existing credit facility

* Expects to generate over $230 million in annualized revenue from acquired assets Source text for Eikon: Further company coverage:

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