Broadcom Ltd. (AVGO) Lifts Lower-End of Q4 GAAP Revenue Guidance

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Broadcom Ltd. (AVGO) to Acquire Brocade (BRCD) in ~$5.9B Deal

November 2, 2016 7:06 AM EDT

Broadcom 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