The network-savvy among you (this does NOT include me) will already know this, but I thought it was worth a passing remark that Brocade and Foundry are gettin’ hitched.

Brocade today announced a definitive agreement to purchase Foundry Networks, Inc., a performance and total solutions leader for network switching and routing. The acquisition will position Brocade as a leading provider of enterprise and service provider networking solutions, with innovative technology and product leadership from the Internet to the heart of data centers.

…Under the agreement, Brocade will pay a combination of $18.50 of cash plus 0.0907 shares of Brocade common stock in exchange for each share of Foundry common stock, representing a total value of $19.25 (based on Brocade’s closing stock price on Friday, July 18, 2008 of $8.27). The transaction has an aggregate purchase price of approximately $3.0 billion on a fully diluted basis, and is expected to be accretive to Brocade non-GAAP EPS in its fiscal year 2009, with non-GAAP EPS accretion expected to accelerate in Brocade’s fiscal year 2010. The acquisition is expected to close in the fourth quarter of calendar year 2008.

Share This

Name (required)

Mail (will not be published) (required)

Website