Extreme snaps up Optranet for $80m

Extreme Networks is buying broadband access provider Optranet for just under $80m in stock.

The networking company will post a one-time charge for research and development costs that result from the acquisition of the one-year-old developer of high-speed, IP-based services. At the close of play on Nasdaq on Friday, Extreme was trading at $39.13, making the deal worth $78.25m.