Sparking Innovation in International Waters
Encube Labs Founder Rajesh Nair shares updates on his time in Japan, teaching young entrepreneurs how to critically and creatively innovate in their fields
Extreme Networks reports FY ’14 loss
Enterasys acquisition bites into Calif. firm’s earnings
Extreme Networks, the company that last November acquired Salem-based Enterasys Networks, lost $16.2 million in its last quarter and some $57.3 million for the fiscal year, but much of the loss was due to continuing acquisition costs.
Those costs are mostly – but not quite – over, said Extreme’s CEO, Charles Berger, last week in his earnings call. Extreme, a San Jose, Calif.-based company, acquired Enterasys for $180 million.
“On the whole, the integration has significantly exceeded my expectations. Enterasys customers, partners, distributors, vendors and employees now interface with us through a single system,” Berger said. “We are on track to realize the synergies we have committed to.”
The revenue for the merged company jumped to $155.3 million, nearly twice that of the previous fourth quarter, and $519.6 million for the fiscal year compared to $299.3 million during the previous year.
