Extreme Networks Acquires Aerohive Networks
Extreme Networks (EXTR) announced on June 26 that the company entered into an agreement to acquire Aerohive Networks. Extreme Networks agreed to pay $4.45 per share in cash, for an approximate total price of $272 million. Aerohive Networks is a pioneer in cloud-managed networking.
Sonal issued an alert for subscribers at 6:30 am. Extreme Networks opened for regular market trading at $5.98. The stock price climbed higher on the news and continued to rise over the next four trading sessions. Extreme Networks closed at $6.51 on July 2 for a gain of 8.9%.
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