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Technology Stocks : Extreme Networks, Inc. (EXTR) -- Ignore unavailable to you. Want to Upgrade?

To: A.L. Reagan who wrote (526)	2/6/2001 8:57:17 PM
From: Sully-	Read Replies (1) \| Respond to of 770

Tuesday February 6, 6:56 pm Eastern Time Press Release SOURCE: Extreme Networks, Inc. Extreme Networks Completes Acquisition Of Optranet SANTA CLARA, Feb. 6 /PRNewswire/ -- Extreme Networks, Inc. (Nasdaq: EXTR - news), a leader in broadband networking solutions, today announced it has completed the acquisition of privately-held Optranet, Inc., of Pleasanton, Calif., a developer of broadband access equipment. Extreme Networks will incorporate Optranet's technology to support its Ethernet Everywhere(TM) strategy and deliver networking solutions that allow for high speed Ethernet Layer 3 switching and IP services over wide area T-1 and DS-3 network technologies, and VDSL modules over voice grade cabling. These new solutions demonstrate how Extreme Networks is a leader in simplifying and reducing the cost for high speed broadband services within metro networks. In connection with the acquisition, Extreme has issued or reserved for future issuance an aggregate of approximately 2 million shares of common stock and options to acquire common stock. The merger will be accounted for under the purchase method of accounting. Related to the acquisition, Extreme will record a one-time charge for purchased in-process research and development expenses in its 3rd fiscal quarter ending March 31, 2001. About Extreme Networks, Inc. Extreme Networks, Inc. delivers a simplified approach for building the network infrastructure that facilitates today's digital communication. Based on Ethernet and IP technologies, the Company's family of BlackDiamond®, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture. Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley'' based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com. This press release may contain forward-looking statements relating to future events that involve risks and uncertainties. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including future sales, technical development, product introduction by Extreme Networks and by competitors. Important factors that may cause such a difference for Extreme Networks in connection with the acquisition of Optranet, Inc. include, but are not limited to, the risks inherent in acquisitions of technologies and businesses, including the timing and successful completion of technology and product development through volume production, integration issues, costs and unanticipated expenditures, potential contractual, intellectual property or employment issues, accounting treatment and charges, and the risks that the acquisition cannot be completed successfully or that anticipated benefits are not realized. Risk factors relating to Extreme Networks' business are set forth in Extreme's filings with the SEC, specifically the most recent report on Form 10-K, and the other reports filed from time to time with the SEC. NOTE: Extreme Networks, ExtremeWare, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine and Ethernet Everywhere are trademarks of Extreme Networks, Inc., in the United States and other countries. SOURCE: Extreme Networks, Inc. biz.yahoo.com Ö¿Ö