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)
