The Gores Group Announces the Completion of the Sale of Enterasys Networks, an American networking company, to Extreme Networks
LOS ANGELES, NOVEMBER 1, 2013 The Gores Group today announced that Unify, formerly Siemens Enterprise Communications, has closed a transaction to sell Enterasys
Networks to Extreme Networks, Inc. (Nasdaq: EXTR).
Unify, one of worlds leading communications software and services firms, is a joint venture between The Gores Group and Siemens AG. When the joint venture was
created, Gores contributed Enterasys, together with additional assets as part of the transaction which resulted in Gores controlling 51% of Unify.
This is an excellent transaction for all parties involved and will allow Unify to further focus management talent, people and resources on their core mission, said Steve Yager, Senior Managing Director of The Gores Group. Besides operating profitably during our stewardship, Enterasys was a key component to our acquiring controlling interest in Unify Communications. The closing of the sale to Extreme Networks will provide substantial cash to implement and execute Project Ansible, Unifys next generation communications and collaboration platform.