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The Gores Group Announces the Completion of the Sale of Enterasys Networks to Extreme Networks

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11/01/2013 | 01:02pm CEST

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 world's 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, Unify's next generation communications and collaboration platform."

About The Gores Group

The Gores Group, LLC is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.

About Unify

Unify--formerly known as Siemens Enterprise Communications--is one of the world's leading communications software and services firms. Our solutions unify multiple networks, devices and applications into one easy-to-use platform that allows teams to engage in rich and meaningful conversations. The result is a transformation of how the enterprise communicates and collaborates that amplifies collective effort, energizes the business, and enhances business performance. Born out of the engineering DNA of Siemens AG, Unify builds on this heritage of product reliability, innovation, open standards and security to provide integrated communications solutions for approximately 75 percent of the Global 500. Unify is a joint venture of The Gores Group and Siemens AG.

For The Gores Group, LLC
Frank Stefanik
(310) 209-3010
or
Sitrick And Company
Terry Fahn
(310) 788-2850


© Business Wire 2013
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