Broadcom Buying Networking Products Maker Brocade for $5.9 Billion
Broadcom agreed to buy Brocade in a $5.9 billion takeover of the networking products maker that provides fiber-channel switches, routers and the like and helps automate networks. The acquirer will divest Brocade’s IP Networking business of wireless and campus networking,…
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data center switching and routing, and software networking systems, it said in a Wednesday news release. "We are confident that we will find a great home for Brocade’s valuable IP networking business that will best position that business for its next phase of growth," said Broadcom CEO Hock Tan. Broadcom/Brocade is expected to be completed in the second half of the fiscal year that began Monday "subject to regulatory approvals in various jurisdictions" among other things, the buyer said; it's not conditioned on jettisoning IP Networking. Spokespeople didn't comment on our further queries.