5. Extreme Networks Buys Avaya's Networking Business
Purchase Price: $100 million
In a bold move to extend its market share in the networking industry, Extreme unveiled plans to acquire Avaya's Networking business for $100 million just months after Avaya filed for Chapter 11 bankruptcy. Extreme said it expects Avaya's networking business to generate over $200 million in annual revenue for the company.
"This strategic acquisition establishes Extreme as the third largest competitor in our enterprise markets and the only company in the world exclusively focused on delivering the highest quality end-to-end, wired and wireless enterprise IP networking," said Norman Rice, executive vice president of corporate development, global marketing and supply chain.
Avaya received four bids for its networking business as part of its restructuring plan, with bids ranging in value from $5 million to $330 million.