Exclusive report - Sources say network equipment company Extreme Networks is exploring a sale

Milana Vinn

Reuters New York, November 6 - According to people familiar with the matter, U.S. network software and equipment manufacturer Extreme Networks EXTR.O is exploring a sale after receiving acquisition interest.

The sources, who requested anonymity because the negotiations are private, said the company, which has a market value of about $3 billion, is working with an investment bank to advance a sale after receiving acquisition interest.

Extreme Networks, headquartered in Morrisville, North Carolina, provides software and equipment that help enterprises manage wired and wireless networks.

Sources said potential strategic buyers for Extreme Networks may include cybersecurity provider Fortinet FTNT.O, network giant Cisco Systems CSCO.O, and data infrastructure provider NetApp NTAP.O.

Both ExtremeNetworks and NetApp declined to comment. Fortinet and Cisco Systems CSCO.O have not yet responded to requests for comment.

This acquisition would add Extreme Networks to a recent wave of mergers and acquisitions in the networking sector, as technology companies look to boost their AI and networking capabilities through purchases. Hewlett Packard Enterprise completed a $14 billion acquisition of Juniper Networks in 2025, one of the largest recent deals in the sector.

Extreme Networks was founded in Silicon Valley in 1996, initially producing Ethernet switches. Since then, it has expanded into cloud-based network software and tools, leveraging AI to manage networks and troubleshoot issues.

This AI and cloud networking service provider reported a 13% revenue growth in fiscal year 2026. On an earnings call in August, CEO Ed Meyercord said that demand for its AI-driven "Platform ONE" product is accelerating, accounting for more than 30% of subscription revenue in its first year on the market.

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