Market Overview

Extreme Networks To Acquire Aerohive Networks For $272M

Share:

Extreme Networks, Inc. (NASDAQ: EXTR) will acquire Aerohive Networks (NYSE: 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.

Related Links:

A Peek Into The Markets: US Stock Futures Signal Higher Start On Wall Street

Extreme Networks Experienced A Challenging Quarter, Cowen Downgrades Stock

Posted-In: M&A News

 

Related Articles (EXTR + HIVE)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

28 Stocks Moving In Wednesday's Pre-Market Session

BridgeBio Pharma IPO: What You Need To Know