March 29 (Reuters) - Extreme Networks Inc -
* Extreme Networks to acquire Brocade’s data center networking business
* Brocade’s data center networking business will be sold to extreme for $55 million in cash
* Deal for $55 million in cash
* Extreme expects acquisition to be accretive to cash flow and earnings for its fiscal year 2018
* Acquisition is expected to close within 60 days following closing of Broadcom’s acquisition of Brocade.
* Extreme expects to fund transaction with funds resulting from an anticipated amendment increasing its existing credit facility
* Expects to generate over $230 million in annualized revenue from acquired assets Source text for Eikon: Further company coverage: