Salem Company Sold for $180M Cash

Enterasys Networks, a privately-held, Salem-based provider of wired and wireless network infrastructure and security solutions, has entered into an agreement with Extreme Networks, Inc., to sell off all outstanding stock for $180 million cash, according to MarketWatch.com.

MarketWatch.com has reported Enterasys, which the site said has about 900 employees and $330 million in annual revenues, will continue to operate separately until the closing of the transaction in the fourth quarter of this year. Extreme Networks specializes in high-performance Ethernet switching for cloud, data center and mobile networks, and serves over 6,000 customers in more than 50 countries, according to the site.

Enterasys relocated in January from their Andover, Mass., facility to Salem, bringing 540 jobs to the area.

Read the full story here.