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Subsequent Event | 12 Months Ended
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Jun. 30, 2021
Subsequent Events [Abstract] |
Subsequent Event | 18. Subsequent Event On August 6, 2021, the Company along with its subsidiary Extreme Networks Ireland Holding Ltd, entered into a put option agreement with InfoVista SAS, relating to the transfer of ownership of Ipanematech SAS (“Ipanematech”). Appended to the put option agreement is a form of sale and purchase agreement which provides for the acquisition at a fixed purchase price of €60 million (approximately $73 million based on the currency exchange rate as of the time of the announcement), payable at closing of the acquisition. The acquisition will be accounted for using the acquisition method of accounting whereby the acquired assets and liabilities of Ipanematech will be recorded at their respective fair values and added to those of the Company including an amount for goodwill representing the difference between the acquisition consideration and the fair value of the identifiable net assets. Results of operations of Ipanematech will be included in the operations of the Company beginning with the closing date. As of the date of the filing of this Form 10-K, the initial purchase price allocation has not been prepared as the acquisition has not been completed. For the fiscal year ended June 30, 2021, the transaction costs related to this acquisition were immaterial and were included in “General and administrative” expense in the accompanying consolidated statements of operations.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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