Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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

11/01/2013 | 07:02am US/Eastern

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
React to this article
Latest news
Date Title
08:04p HONDA MOTOR : Cosumnes firefighter struck by car, suffers major injuries while on accident scene
08:00pDJThailand's TCC Group to Buy Groupe Casino's Stake in Big C
07:35p NFIB NATIONAL FEDERATION OF INDEPENDENT BUSINESS : Small Business Blasts DOL Joint Employer Guidance
07:20p COCA COLA : Reno County Food Inspections
07:18p COLBY COLLEGE : Women’s hockey has same result in setback
07:09p THOR : Elkhart's Thor Industries makes personnel moves
07:08p COCA COLA : BRIEF: Man critically injured in hit-and-run in Jackson County
07:08p APGA AUSTRALIAN PIPELINES AND GAS ASSOCIATION LT : Natural gas is vital to our economy
07:07p GOODYEAR TIRE & RUBBER : New Goodyear airship takes on a familiar shine and preps for first flight
07:03p TROY INCOME & GROWTH : Net Asset Value(s)
Latest news
Advertisement
Hot News 
ANDALAS ENERGY AND POWER : & Power signs heads of agreement to farm-in to Indonesian gas project
GWG : CEO Jon Sabes Appears on TheStreet.com
Technology rout pushes Nasdaq to lowest close since 2014
Lions Gate Plummets Amid Lack of Earnings Guidance
LINKEDIN : forecasts weak first-quarter profit, shares plunge
Most Read News
06:54p Hallman Extends Lead On Day Three At Walmart FLW Tour On Lake Okeechobee Presented By Ranger Boats
06:46p OFFICE OF GOVERNOR OF STATE OF HAWAII : DLNR NEWS RELEASE: Salvage Work to Begin on Grounded Vessel at Molokai
07:18p COLBY COLLEGE : Women’s hockey has same result in setback
07:08p APGA AUSTRALIAN PIPELINES AND GAS ASSOCIATION LT : Natural gas is vital to our economy
06:56p ENTERGY : New York investigates radioactive leak in groundwater near city
Most recommended articles
08:00pDJThailand's TCC Group to Buy Groupe Casino's Stake in Big C
03:45pDJSUMNER REDSTONE : Redstone Trust Presents New Twist in Control of Media Assets
02:37p Seven countries call for EU action to help steel industry
02:24p Investors cheer Argentina's swift offer to holdouts
10:16a German competition watchdog wants 'big data' hoards considered in merger probes