DA Davidson Downgrades Brocade (BRCD) to Neutral
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Chipmaker Broadcom to buy network gear maker Brocade for $5.5 billion
November 2, 2016 7:20 AM EDTBy Supantha Mukherjee and Liana B. Baker
(Reuters) - Chipmaker Broadcom Ltd (NASDAQ: AVGO) said it would buy Brocade Communications Systems Inc (NASDAQ: BRCD) for $5.5 billion, pushing deeper into the fast-growing market for network equipment used in data centers.
The deal, the latest in a consolidating chip sector, will allow Broadcom to corner a larger share of the data center products market by using Brocade's fiber channel switches that speed up data transfer between servers and storage devices.
Singapore-based Broadcom, formerly Avago Technologies, is known for its... More
Broadcom Ltd. (AVGO) to Acquire Brocade (BRCD) in ~$5.9B Deal
November 2, 2016 7:06 AM EDTBroadcom Limited (Nasdaq: AVGO) and Brocade Communications Systems, Inc. (Nasdaq: BRCD) announced that they have entered into a definitive agreement under which Broadcom will acquire Brocade, a leader in Fibre Channel storage area network (FC SAN) switching and IP networking, for $12.75 per share in an all-cash transaction valued at approximately $5.5 billion, plus $0.4 billion of net debt. Broadcom expects to fund the transaction with new debt financing and cash available on its balance sheet. Broadcom, with the support of Brocade, plans to divest Brocades IP Networking business, consisting of wireless... More
