M&A Deal Summary

Extreme Networks Acquires Enterasys Networks

On September 12, 2013, Extreme Networks acquired information technology company Enterasys Networks from The Gores Group, Tennenbaum Capital Partners, Silver Lake and Valhalla Partners for 180M USD

Acquisition Highlights
  • This is Extreme Networks’ 1st transaction in the Information Technology sector.
  • This is Extreme Networks’ 2nd largest (disclosed) transaction.
  • This is Extreme Networks’ 4th transaction in the United States.
  • This is Extreme Networks’ 1st transaction in Massachusetts.

M&A Deal Summary

Date 2013-09-12
Target Enterasys Networks
Sector Information Technology
Buyer(s) Extreme Networks
Sellers(s) The Gores Group
Tennenbaum Capital Partners
Silver Lake
Valhalla Partners
Deal Type Add-on Acquisition
Deal Value 180M USD

Target

Enterasys Networks

Andover, Massachusetts, United States
Enterasys Networks is a provider of Secure Networks for enterprise customers. Enterasys' innovative network infrastructure offerings deliver the security, productivity and adaptability benefits required by Global 2000 organizations, coupled with the industry's strongest service and support.

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Buyer(S) 1

Buyer

Extreme Networks

Morrisville, North Carolina, United States

Category Company
Founded 1996
Sector Technology Hardware
Employees2,656
Revenue 1.1B USD (2024)
DESCRIPTION
Extreme Networks' corporate headquarters in San Jose, California.
Extreme Networks' corporate headquarters in San Jose, California.

Extreme Networks is a provider of network infrastructure equipment and services for enterprises and data centers. The Company delivers software-driven networking solutions that help IT departments deliver stronger connections with customers, partners, and employees. Extreme Networks was founded in 1996 and is based in Morrisville, North Carolina.


DEAL STATS #
Overall 4 of 9
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 5
State: Massachusetts M&A 1 of 1
Country: United States M&A 4 of 8
Year: 2013 M&A 1 of 1
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 Webstacks

United States

Webstacks, Inc. is a provider of technological products in US.

Buy $74M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-14 Zebra Technologies - Wireless LAN Business

Lincolnshire, Illinois, United States

Zebra Technologies Corp. - Wireless LAN Business is a manufacture of communication equipment.

Buy $55M

Seller(S) 4

SELLER

The Gores Group

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION
The Gores Group's headquarters in Beverly Hills, California.
The Gores Group's headquarters in Beverly Hills, California.

The Gores Group is a private equity firm focused on acquiring controlling interests in mature and growing businesses. Gores considers investments across Europe and North America and typically seeks non-core assets of public corporations. While Gores is a generalist investor, the firm has a particular interest in technology, telecommunications, business services, and industrial companies. The Gores Group was formed in 1987 and has offices in Beverly Hills, California, and Boulder, Colorado.


DEAL STATS #
Overall 40 of 67
Sector: Information Technology M&A 9 of 12
Type: Add-on Acquisition M&A Deals 16 of 30
State: Massachusetts M&A 2 of 2
Country: United States M&A 32 of 53
Year: 2013 M&A 4 of 4
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-05 Alliance Entertainment

Coral Springs, Florida, United States

Wholesale distribution and fulfillment of CD, DVD, and videogame titles throughout the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-04 Imagine Communications

Plano, Texas, United States

Imagine Communications is a developer of advanced broadband video processing equipment. The company's technology enables on-demand, interactive and personalized television broadcasting for improved bandwidth, enhanced video quality, targeted ads and personalized audio. Imagine Communications was founded in 2005 and is based in Plano, Texas.

Buy -
SELLER

Tennenbaum Capital Partners

Santa Monica, California, United States

Category Asset Manager
Founded 1999
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Tennenbaum Capital Partners' headquarters in Santa Monica, California.
Tennenbaum Capital Partners' headquarters in Santa Monica, California.

Tennenbaum Capital Partners is a private investment group focused on providing financing solutions to middle-market companies in a variety of sectors. The Firm separates its activity into two segments - performing and distressed. The performing group looks to invest $10 to $125 million to support recapitalizations, LBOs, acquisitions, and growth capital needs of companies valued between $100 million and $1.5 billion. The special situations group looks to provide $20 to $125 million to support rescue needs, as well as fund complex situations or secondary market purchases. Tennenbaum primarily considers opportunities in North America and Europe, but will consider other geographies. Tennenbaum Capital Partners was formed in 1999 and is based in Santa Monica, California.


DEAL STATS #
Overall 4 of 9
Sector: Information Technology M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 5
State: Massachusetts M&A 1 of 2
Country: United States M&A 3 of 8
Year: 2013 M&A 2 of 2
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-30 Online Resources

Chantilly, Virginia,

Online Resources Corporation powers financial interactions between millions of consumers and the company’s financial institution and biller clients. Backed by its proprietary real-time payments gateway that links banks directly with billers, the company provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption.

Sell $263M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-09 Novanta

Bedford, Massachusetts, United States

Novanta is a provider of core technology solutions that give medical and advanced industrial original equipment manufacturers a competitive advantage. The Company combines deep proprietary technology expertise and competencies in precision medicine and manufacturing, medical solutions, and robotics and automation with a proven ability to solve complex technical challenges. Novanta was founded in 1968 and is based in Bedford, Massachusetts.

Sell -
SELLER

Silver Lake

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


DEAL STATS #
Overall 19 of 66
Sector: Information Technology M&A 2 of 9
Type: Add-on Acquisition M&A Deals 7 of 18
State: Massachusetts M&A 2 of 3
Country: United States M&A 13 of 51
Year: 2013 M&A 3 of 4
Size (of disclosed) 17 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-22 SMART Storage Systems

Newark, California, United States

SMART Storage Systems, Inc. designs, develops, manufactures, and deploys enterprise memory modules and solid-state storage products.

Sell $307M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-18 Eka

Bengaluru, India

Eka is a global provider of commodity management solutions with a specialty in the soft ags and energy markets. Eka was founded in 2001 and is based in Bengaluru, India.

Buy -
SELLER

Valhalla Partners

Vienna, Virginia, United States

Category Venture Capital Firm
Founded 2002
PE ASSETS 440M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Valhalla Partners is a private equity and venture capital firm focused primarily on providing capital to technology companies in the Mid-Atlantic US. Valhalla will invest at all company stages, including early-stage needs as well as more mature company situations such as divestitures. Sub-sectors of tech Valhalla will consider include software, internet, digital media, mobile, and data storage. Valhalla Partners was formed in 2002 and is based in Vienna, Virginia.


DEAL STATS #
Overall 17 of 33
Sector: Information Technology M&A 4 of 8
Type: Add-on Acquisition M&A Deals 11 of 22
State: Massachusetts M&A 2 of 4
Country: United States M&A 17 of 33
Year: 2013 M&A 4 of 6
Size (of disclosed) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-02 WellAWARE Systems

Glen Allen, Virginia, United States

WellAWARE Systems, Inc. provides wellness monitoring solutions to increase the quality of life and care for seniors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Nirvanix

San Diego, California, United States

Nirvanix is the leading provider of enterprise-class cloud storage services designed specifically for customers with expectations of extreme security, reliability and redundancy. Under its CloudComplete™ portfolio, Nirvanix is the only company that offers fully managed public, hybrid and private cloud storage services with usage-based pricing. The company's battle-hardened, proven second generation technology is utilized by leading IT OEMs and is fully integrated with third-party backup and archiving software products and appliances, enabling One Click to the Cloud™. Nirvanix has global customers accessing its Cloud Storage Network™, from SMBs to Fortune 500 companies.

Sell -