Extreme Networks has emerged as the winning bidder to acquire Avaya’s networking business for $100 million following its original March 7 bid.
Now that the final agreement has been approved by the United States Bankruptcy Court for the Southern District of New York, it is expected to close on or shortly after July 1, 2017, subject to customary closing conditions and regulatory approvals. During the court-supervised process, Extreme became the lead bidder, while other interested parties were offered an opportunity to bid before a sale was finalized.
