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Broadcom confirms takeover of Brocade for USD 5.9 bln

2016-11-02 13:06:00| Telecompaper Headlines

(Telecompaper) Broadcom has confirmed an agreement to acquire Brocade for USD 5.9 billion, expanding its position in the Fiber Channel SAN market. The company is offering USD 12.75 per share cash for Brocade and will also assume USD 0.4 billion in debt. The bid is a 47 percent premium on Brocade's share price of 28 October, the day before reports first emerged of a possible deal. The takeover is focused on acquiring Brocade's Fiber Channel business, as Broadcom plans to sell Brocade's IP Networking business.

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