INSUBCONTINENT EXCLUSIVE:
Software-driven networking company Extreme Networks has announced that it will acquire Wi-Fi router maker Aerohive Networks for $272m.The
two companies have entered into a definitive agreement where Extreme Networks will purchase all of Aerohive's outstanding shares of common
stock at a price of $4.45 per share in cash.By acquiring Aerohive, Extreme Networks will add critical cloud management and edge capabilities
to its existing portfolio of end-to-end, edge to cloud networking solutions
Aerohive will also bring its strong subscription-based business to the table which will help expand Extreme's subscription-recurring revenue
by 30 percent.President and CEO of Extreme Networks, Ed Meyercord explained how the acquisition will boost its current offerings in a
statement, saying:"The acquisition of Aerohive establishes our leadership in cloud, AI, and ML, adding a proven and mature cloud services
platform and subscription service model for Extreme's customers and partners
Extreme continues to invest in software and AI to expand the automation capabilities across our portfolio of edge-to-cloud networking
founded in 2006 and today it has 30,000 cloud wireless LAN customers across a number of verticals including education, state and local
government, healthcare and retail
The company was also one of the first firms to offer controller-less wi-fi and cloud network management.Aerohive also recently delivered the
industry's first trio of Wi-Fi 6 access points along with the first pluggable access point.President and CEO of Aerohive, David Flynn
explained how the deal will allow both companies to push networking into a new era, saying:"This acquisition by Extreme is a major milestone
Aerohive's expertise and excellence in cloud management and edge technology, combined with Extreme's extensive solutions portfolio and
continued investment in software and AI for automation, gives our customers the most advanced digital experiences in the market
acquisition of Aerohive is expected to close during Extreme's first quarter of the fiscal year 2020 following regulatory approvals in the US
