Editing Enterasys Networks

{{short description|American networking company}}
{{Infobox company
| name = Enterasys Networks, Inc.
| logo = Enterasys logo color.jpg
| fate = Acquired by [[Extreme Networks]] in September 2013
| predecessor = Cabletron Systems Inc
| successor = [[Extreme Networks]]
| foundation = March 1983 as [[Cabletron Systems]], Listed on [[NYSE]] as Enterasys in August 2001
| location = [[Salem, New Hampshire]], [[United States|U.S.]]
| industry = [[Computer network]]ing
| products = [[Network switch|Switches]], [[router (computing)|Router]]s, Network Security Software
| homepage = {{URL|http://www.enterasys.com/}}
}}

'''Enterasys Networks, Inc.''' was an American [[Computer network|networking]] company. Enterasys products included networking equipment ranging from [[router (computing)|router]]s, [[network switch|switch]]es, 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 [[computer network|network]]s such as [[intrusion prevention system]]s, [[network access control]] and [[security information management]].

The company's headquarters were in [[Salem, New Hampshire|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.<ref>{{Cite news |title= Enterasys Networks Begins Trading on the New York Stock Exchange |date= August 6, 2001 |work= Press release |url= http://www.enterasys.com/company/press-release-item.aspx?id=194 |url-status=dead |archiveurl= https://web.archive.org/web/20071007105159/http://www.enterasys.com/company/press-release-item.aspx?id=194 |archivedate= October 7, 2007 |accessdate= December 6, 2013 }}</ref>

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|date=July 2020}}

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.<ref>{{Cite news |title= Former Enterasys exec pleads guilty to fraud |work= Mass High Tech |date= August 16, 2004 |url= http://www.bizjournals.com/boston/blog/mass-high-tech/2004/08/former-enterasys-exec-pleads-guilty-to-fraud.html |accessdate= December 6, 2013 }}</ref>

At a December 2006 trial, four former executives were sentenced to prison terms and several others found guilty.<ref>{{Cite news |title= Four Former Enterasys Executives Sentenced on Fraud, Conspiracy Charges |work= Press release |publisher= US Department of Justice |date= July 3, 2007 |url= http://www.justice.gov/opa/pr/2007/July/07_crm_475.html |accessdate= December 6, 2013 }}</ref>

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.<ref name="Private">{{Cite news|title=Enterasys sells, goes private |work=Network World |author=Phil Hochmuth |date=November 21, 2005 |url=http://www.networkworld.com/news/2005/112105-enterasys.html |accessdate=December 6, 2013 |url-status=dead |archiveurl=https://web.archive.org/web/20131212200502/http://www.networkworld.com/news/2005/112105-enterasys.html |archivedate=December 12, 2013 }}</ref> In April 2006, The Gores Group named Mike Fabiaschi as CEO.<ref name="Fabiaschi">[http://www.allbusiness.com/company-activities-management/financial-performance/5394406-1.html Enterasys Networks Appoints Michael Fabiaschi President and CEO], [[AllBusiness]], April 26, 2006.</ref> Fabiaschi had to deal with renewing trust relationships with customers, to "fix the company."<ref name="The Underdog Fights Back">[http://www.the-chiefexecutive.com/features/feature1042/ The Underdog Fights Back], Nigel Ash, The-ChiefExecutive.com, March 1, 2007.</ref> In 2008, Enterasys sought to increase revenue to $1 billion and make one or two acquisitions.<ref name="Enterasys looking to buy into big time">[http://www.networkworld.com/news/2008/020708-enterasys.html Enterasys looking to buy into big time] {{Webarchive|url=https://web.archive.org/web/20081101144329/http://www.networkworld.com/news/2008/020708-enterasys.html |date=2008-11-01 }}, Jim Duffy, [[Network World]], Feb. 7, 2008.</ref>

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.<ref name="Siemens Enterprise, Enterasys in $550M joint venture ">[http://www.networkworld.com/news/2008/072908-siemens-enterasys.html?fsrc=netflash-rss Siemens Enterprise, Enterasys in $550M joint venture] {{Webarchive|url=https://web.archive.org/web/20080802160937/http://www.networkworld.com/news/2008/072908-siemens-enterasys.html?fsrc=netflash-rss |date=2008-08-02 }}, Jim Duffy, [[Network World]], July 29, 2008.</ref>

On September 22, 2008, Fabiaschi died suddenly.<ref name="Enterasys Copes With the Death of its CEO">[http://news.cnet.com/8301-1035_3-10058967-94.html?tag=mncol;title Enterasys Copes With Death of CEO], Jon Oltsik, [[CNet]], Oct. 6, 2008.</ref> 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.<ref name="Siemens/Enterasys Enterprise Communications Integration Begins">[http://www.currentanalysis.com/h/2008/Enterasys-SEC-48183.asp Enterasys/Siemens Enterprise Communications Integration Begins] {{Webarchive|url=https://web.archive.org/web/20090327195421/http://www.currentanalysis.com/h/2008/Enterasys-SEC-48183.asp |date=2009-03-27 }}, Bill Terrill,  Current Analysis, Nov. 19, 2008.</ref>

Meanwhile, appeals from the fraud cases continued through 2009.<ref>{{Cite news |title= Ex-Enterasys exec loses appeal bid |author= Bob Sanders |date= July 31, 2009 |work= New Hampshire Business Review |publisher= Nashua Telegraph |url= http://www.nashuatelegraph.com/businessnews/cabletron/389526-302/ex-enterasys-exec-loses-appeal-bid.html |accessdate= December 6, 2013 }}</ref>

On September 12, 2013, [[Extreme Networks]] announced they would acquire Enterasys for about $180 million cash.<ref>{{Cite news |title= Extreme Networks Announces Agreement to Acquire Enterasys Networks |date= September 12, 2013 |work= Press release |url= http://investor.extremenetworks.com/releasedetail.cfm?ReleaseID=790266 |accessdate= December 6, 2013 }}</ref>

==See also==
*[[List of networking hardware vendors]]

== References ==
<references/>

== External links ==
*{{Official website|http://www.enterasys.com|Enterasys Networks}}
*[http://www.enterasys.com/company/literature/enterasys-fs.pdf Enterasys Company Fact Sheet]
*[https://web.archive.org/web/20071007105100/http://www.enterasys.com/company/press-release-item.aspx?id=644 Enterasys Privatization March 2006]

[[Category:2000 establishments in Massachusetts]]
[[Category:2013 disestablishments in Massachusetts]]
[[Category:2013 mergers and acquisitions]]
[[Category:American companies established in 2000]]
[[Category:American companies disestablished in 2013]]
[[Category:Computer companies established in 2000]]
[[Category:Computer companies disestablished in 2013]]
[[Category:Defunct computer companies based in Massachusetts]]
[[Category:Defunct computer companies of the United States]]
[[Category:Defunct computer hardware companies]]
[[Category:Defunct software companies of the United States]]
[[Category:Networking companies of the United States]]
[[Category:Silver Lake (investment firm) companies]]