Extreme Networks, Inc. entered into a letter of intent to acquire Ipanema Technologies S.A. from InfoVista S.A. for €60 million.
August 09, 2021
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Extreme Networks, Inc. (NasdaqGS:EXTR) entered into a letter of intent to acquire Ipanema Technologies S.A. from InfoVista S.A. for €60 million on August 10, 2021. Extreme expects that Infovista will enter into a definitive purchase agreement with Extreme for purchase and sale of €60 million (or approximately $73 million) in an all-cash deal. The transaction is subject to customary adjustments.
The acquisition is expected to close in October 2021, pending works counsel consultations. Extreme continues to expect the acquisition of Ipanema to be neutral to Non-GAAP EPS in FY22 and accretive to non-GAAP EPS in FY23. Moelis & Company LLC acted as a financial advisor to Extreme Networks, Inc. Latham & Watkins LLP acted as legal advisor to the company.
Extreme Networks, Inc. is a provider of cloud networking solutions and industry services and support. The Company designs, develops, and manufactures wired, wireless, and software-defined area-network (SD- WAN) infrastructure equipment. The Company's cloud solution is a single platform that offers unified network management of wireless access points, switches, and SD-WAN. Its products and services categories include Cloud Networking Platform, Automation, Analytics, and Security Applications, Wireless LAN AP, Wired for Edge, Campus, and Data Center, SD-WAN, Cloud Native Platforms and Applications for Service Providers and Customer Service and Support. It offers its services in business, hospitality, retail, transportation and logistics, education, government, healthcare, manufacturing, and service providers. Its cloud networking technologies provide flexibility and scalability in deployment, management, and licensing of networks globally.
EXTREME NETWORKS, INC. 
