Entersys Shareholders Approve Buyout

The acquisition of Enterasys Networks (formerly known as Cabletron Systems) for $386 million by two private investment firms has been approved by Enterasys' stockholders.

Once sporting a multi-billion dollar valuation, the firm still has valuable technology and products, according to the acquiring companies, Gores Group and Tennenbaum Capital Partners.

"With the added support, financial resources and specialized expertise of The Gores Group and Tennenbaum Capital," said Alec E. Gores in a statement Thursday, "we believe Enterasys will become a leader in this industry."

Located in New Hampshire, the firm changed its name and moved to Massachusetts where it will remain, the company said.

The firm has a product portfolio that is paced by its Secure Networks design philosophy and includes multiplayer switches, core routers, WAN routers, wireless LANs, network management and intrusion defense systems.