Extreme Networks To Acquire Aerohive Networks For $272M

Extreme Networks, Inc. EXTR will acquire Aerohive Networks HIVE for approximately $272 million.

The companies have entered into a definitive agreement under which Extreme will acquire the outstanding shares of common stock of Aerohive at a price of $4.45 per share in cash.

Aerohive's net cash balance was $62 million at the end of March, the deal is equivalent to the value of $210 million.

Aerohive Networks shares traded higher by 39.18% at $4.44 in Wednesday's pre-market session.

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