Enterasys Networks

Last updated
Enterasys Networks, Inc.
Industry Computer networking
PredecessorCabletron Systems Inc
FoundedMarch 1983 as Cabletron Systems, Listed on NYSE as Enterasys in August 2001
FateAcquired by Extreme Networks in September 2013
Successor Extreme Networks
Headquarters Salem, New Hampshire, U.S.
Products Switches, Routers, Network Security Software
Website www.enterasys.com

Enterasys Networks, Inc. was an American networking company. Enterasys products included networking equipment ranging from routers, switches, and IEEE 802.11 wireless access points and controllers. The company formed in March 2000 as a spin-off of Cabletron Systems.

Contents

In addition to networking hardware such as switches, routers and wireless products, the company sold software for managing and securing networks such as intrusion prevention systems, network access control and security information management.

The company's headquarters were in Salem, New Hampshire.

History

Enterasys had their initial public offering on August 6, 2001, with its shares trading on the New York Stock Exchange under symbol ETS. [1]

It claimed a $12.9 million profit in its first quarter after it was spun out of Cabletron in June 2001. A restatement in 2002 for recognizing revenue in improper time periods resulted in several quarters of losses.[ citation needed ]

An investigation by the US Securities and Exchange Commission and shareholder lawsuits was settled in October 2003 for $50.4 million. In 2004, a former executives pleaded guilty for fraud. [2]

At a December 2006 trial, four former executives were sentenced to prison terms and several others found guilty. [3]

In November 2005, Enterasys was acquired by Alec Gores' private equity firm, Gores Group, and Tennenbaum Capital Partners, in a going-private transaction estimated at $386 million. [4] In April 2006, The Gores Group named Mike Fabiaschi as CEO. [5] Fabiaschi had to deal with renewing trust relationships with customers, to "fix the company." [6] In 2008, Enterasys sought to increase revenue to $1 billion and make one or two acquisitions. [7]

On July 29, 2008, The Gores Group announced its partnership with Siemens to acquire the German company's enterprise communications business, known as Siemens Enterprise Communications. The Gores Group acquired a 51% stake in Siemens Enterprise Communications (SEN). As part of the $550 million transaction, Gores Group offered two of its assets: Enterasys and SER Solutions, a Virginia-based contacts management provider. [8]

On September 22, 2008, Fabiaschi died suddenly. [9] Mark Stone, chairman of the board, was named interim CEO and completed the joint venture transaction. Chris Crowell became CEO and president of Enterasys.

Enterasys enterprise networking and SEN's telephony and wireless products were integrated. [10]

Meanwhile, appeals from the fraud cases continued through 2009. [11]

On September 12, 2013, Extreme Networks announced they would acquire Enterasys for about $180 million cash. [12]

See also

Related Research Articles

MCI Inc. Subsidiary of Verizon Communications

MCI, Inc. was a telecommunications company. For a time, it was the second largest long-distance telephone company in the United States, after AT&T. Worldcom grew largely by acquiring other telecommunications companies, including MCI Communications in 1998, and filed bankruptcy in 2002 after an accounting scandal, in which several executives, including CEO Bernard Ebbers, were convicted of a scheme to inflate the company's assets. In January 2006, the company, by then renamed MCI, was acquired by Verizon Communications and was later integrated into Verizon Business.

Global Crossing was a telecommunications company that provided computer networking services and operated a tier 1 carrier. It maintained a large backbone network and offered peering, virtual private networks, leased lines, audio and video conferencing, long distance telephone, managed services, dialup, colocation centres and VoIP. Its customer base ranged from individuals to large enterprises and other carriers, with emphasis on higher-margin layered services such as managed services and VoIP with leased lines. Its core network delivered services to more than 700 cities in more than 70 countries.

Siemens German multinational conglomerate company

Siemens AG is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe headquartered in Munich with branch offices abroad.

Neustar, Inc., is an American technology company that provides real-time information and analytics for the Internet, risk, digital performance, defense, telecommunications, entertainment, and marketing industries, and also provides clearinghouse and directory services to the global communications and Internet industries. Neustar is the domain name registry for a number of top-level domains, including .biz, .us, .co, .nyc, and .in.

Juniper Networks American multinational technology company

Juniper Networks, Inc. is an American multinational corporation headquartered in Sunnyvale, California. The company develops and markets networking products, including routers, switches, network management software, network security products, and software-defined networking technology.

BMC Software American enterprise software company

BMC Software, Inc. is an American multinational information technology (IT) services and consulting company based in Houston, Texas. Its international headquarters is located in Houston, Texas, United States.

Cabletron Systems

Cabletron Systems was a manufacturer of networking computer equipment throughout the 1980s and 1990s primarily based in Rochester, New Hampshire, in the United States. They also had manufacturing facilities in Ironton, Ohio, and in Ireland.

Radisys Corporation is an American technology company located in Hillsboro, Oregon, United States that makes technology used by telecommunications companies in mobile networks. Founded in 1987 in Oregon by former employees of Intel, the company went public in 1995. The company's products are used in mobile network applications such as small cell radio access networks, wireless core network elements, deep packet inspection and policy management equipment; conferencing, and media services including voice, video and data. In 2015, the first-quarter revenues of Radisys totaled $48.7 million, and approximately employed 700 people. Arun Bhikshesvaran is the company's chief executive officer.

Extreme Networks is an American networking company based in San Jose, California. Extreme Networks designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security and access controls.

Global Industrial Company, is a Port Washington, New York based company and is a provider of industrial and MRO products through a system of branded e-Commerce websites and relationship marketers in North America. The primary brand is Global Industrial.

Siemens Communications was the communications and information business arm of German industrial conglomerate Siemens AG, until 2006. It was the largest division of Siemens, and had two business units – Mobile Networks and Fixed Networks; and Enterprise.

Nokia Networks is a multinational data networking and telecommunications equipment company headquartered in Espoo, Finland, and wholly owned subsidiary of Nokia Corporation. It started as a joint venture between Nokia of Finland and Siemens of Germany known as Nokia Siemens Networks. Nokia Networks has operations in around 120 countries. In 2013, Nokia acquired 100% of Nokia Networks, buying all of Siemens' shares. In April 2014, NSN name was phased out as part of rebranding process.

Symbol Technologies American technology company

Symbol Technologies is an American manufacturer and supplier of mobile data capture and delivery equipment. The company specializes in barcode scanners, mobile computers, RFID systems and Wireless LAN infrastructure. In 2014, Symbol Technologies became a subsidiary of Zebra Technologies, and is headquartered in Holtsville, New York, on Long Island.

Sierra Wireless

Sierra Wireless is a Canadian multinational wireless communications equipment designer, manufacturer and services provider headquartered in Richmond, British Columbia, Canada. It also maintains offices and operations in California, Sweden, Korea, Japan, China, Taiwan, France, Australia, New Zealand and Hong Kong.

Proxim Wireless

Proxim Wireless Corporation is a San Jose, California-based company that builds scalable broadband wireless networking systems for communities, enterprises, governments, and service providers. It offers wireless LAN, point-to-multipoint and point-to-point products through a channel network. The company is a product of many mergers and acquisitions over the years.

Airvana was acquired by CommScope in 2015. Prior to that, the company was an independent provider of small cells and femtocells based on fourth generation (4G) Long Term Evolution (LTE) and third-generation (3G) CDMA2000 EV-DO mobile broadband technologies. Airvana products enable mobile operators to deliver 3G and 4G cellular data services indoors.

Unify, is an Atos company headquartered in Munich, Germany and is present in over 100 countries. The company provides software-based enterprise unified communications including voice, Web collaboration, video conferencing and contact center, networking product and services.

Hamid Akhavan Iranian-American business executive

Hamid Akhavan-Malayeri is an Iranian-American business executive, and is currently a partner at Long Arc Capital, a New York-based private equity firm.

The Gores Group is a global private equity firm specializing in acquiring and partnering with mature and growing businesses. The company was founded in 1987 by its CEO and chairman, Alec E. Gores.

Ribbon Communications US LLC is a public company that makes software, IP and optical networking solutions for service providers, enterprises and critical infrastructure sectors. The company was formed in 2017, following the merger of Genband and Sonus Networks and is headquartered in Plano, Texas.

References

  1. ↑ "Enterasys Networks Begins Trading on the New York Stock Exchange". Press release. August 6, 2001. Archived from the original on October 7, 2007. Retrieved December 6, 2013.
  2. ↑ "Former Enterasys exec pleads guilty to fraud". Mass High Tech. August 16, 2004. Retrieved December 6, 2013.
  3. ↑ "Four Former Enterasys Executives Sentenced on Fraud, Conspiracy Charges". Press release. US Department of Justice. July 3, 2007. Retrieved December 6, 2013.
  4. ↑ Phil Hochmuth (November 21, 2005). "Enterasys sells, goes private". Network World. Archived from the original on December 12, 2013. Retrieved December 6, 2013.
  5. ↑ Enterasys Networks Appoints Michael Fabiaschi President and CEO, AllBusiness, April 26, 2006.
  6. ↑ The Underdog Fights Back, Nigel Ash, The-ChiefExecutive.com, March 1, 2007.
  7. ↑ Enterasys looking to buy into big time Archived 2008-11-01 at the Wayback Machine , Jim Duffy, Network World, Feb. 7, 2008.
  8. ↑ Siemens Enterprise, Enterasys in $550M joint venture Archived 2008-08-02 at the Wayback Machine , Jim Duffy, Network World, July 29, 2008.
  9. ↑ Enterasys Copes With Death of CEO, Jon Oltsik, CNet, Oct. 6, 2008.
  10. ↑ Enterasys/Siemens Enterprise Communications Integration Begins Archived 2009-03-27 at the Wayback Machine , Bill Terrill, Current Analysis, Nov. 19, 2008.
  11. ↑ Bob Sanders (July 31, 2009). "Ex-Enterasys exec loses appeal bid". New Hampshire Business Review. Nashua Telegraph. Retrieved December 6, 2013.
  12. ↑ "Extreme Networks Announces Agreement to Acquire Enterasys Networks". Press release. September 12, 2013. Retrieved December 6, 2013.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.