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Exclusive-Networking firm Extreme Networks explores sale, sources say

By Thomson Reuters Nov 6, 2026 | 8:07 AM

By Milana Vinn

NEW YORK, Nov 6 (Reuters) – US networking software and equipment maker Extreme Networks is exploring a sale after attracting inbound acquisition interest, according ​to people familiar with the matter.

The company, ‌which has a market capitalization of about $3 billion, is working with an investment bank on a sale process following the approach, said the people speaking on the condition of anonymity because the talks ‌were ​private.

Shares of Extreme Networks jumped around ⁠17% on Friday.

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

Potential strategic buyers for Extreme Networks could include cybersecurity provider ​Fortinet, networking giant Cisco Systems and data infrastructure provider NetApp, among others, the sources said.

Extreme Networks and NetApp ⁠declined to comment. Fortinet and ⁠Cisco Systems did not immediately respond to ​requests for comment.

A sale would add Extreme Networks to a ​run of networking deals as technology companies pursue acquisitions ‌to bolster AI and networking capabilities. Hewlett Packard Enterprise closed its $14 billion acquisition of Juniper Networks in 2025, one of the sector’s largest recent deals.

Founded in Silicon Valley ⁠in 1996, Extreme Networks initially made Ethernet switches and has since expanded into cloud-based networking software and tools that use AI ⁠to manage networks ‌and troubleshoot problems.

The AI and cloud networking ⁠provider reported 13% revenue growth in fiscal ​2026. ‌During an August earnings call, Chief Executive ​Ed Meyercord ⁠said demand for its AI-focused Platform ONE offering was accelerating, with the product accounting for more than 30% of subscription bookings in its first year on the market.

(Reporting by Milana Vinn in New York; editing by Echo Wang ​and Sanjeev Miglani)