Enterasys Networks
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| Industry | Computer networking |
|---|---|
| Fate | Acquired by Extreme Networks in September 2013 |
| Predecessor | Cabletron Systems Inc |
| Successor | Extreme Networks |
| Founded | March 1983 as Cabletron Systems, Listed on NYSE as Enterasys in August 2001 |
| Headquarters | Salem, New Hampshire, U.S. |
| Products | Switches, Routers, Network Security Software |
| Website | www |
Enterasys Networks, Inc. was an American networking company. Enterasys products include 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.
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.
Enterasys had their initial public offering on August 6, 2001, with its shares trading on the under symbol ETS.
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. 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. At a December 2006 trial, four former executives were sentenced to prison terms and several others found guilty.
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. In April 2006, The Gores Group named Mike Fabiaschi as CEO. Fabiaschi had to deal with renewing trust relationships with customers, to "fix the company." In 2008, Enterasys sought to increase revenue to $1 billion and make one or two acquisitions.
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