Avaya has agreed to sell its networking business to Extreme Networks for USD 100 million. The sale is part of Avaya's bankruptcy process and will help the company narrow its focus to unified communications and contact centre products.
Extreme said it expects the acquired business to add over USD 200 million in annual revenue and increase its market share, while adding to earnings and cash flow.
The court-supervised process sees Extreme as the lead bidder while other parties will be offered an opportunity to bid before a final sale is agreed. If other qualified bids are submitted, an auction process will be conducted, with Extreme's offer set as the starting price. The transaction is expected to close by 30 June.
