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22 Dec 2008
Storage vendor Brocade has completed its acquisition of switch and router company Foundry Networks for US$16.50 cash per share or around US$2.6bn.
Foundry will help Brocade better address the needs of its customers and strengthen the company’s position in networking, the company said in its formal announcement.
Mike Klayko, chief executive at Brocade, said the storage vendor will now be able to offer a “comprehensive” IP and datacentre networking portfolio that will address emerging market trends.
Further reading
“The close of the Foundry acquisition will enhance our ability to deliver on our mission of connecting the world’s most important information,” said Klayko.
US-based Foundry started up in 1996 and has 1100 employees around the world. Foundry employees, products and technologies will be integrated into Brocade by function.
In the wake of the acquisition, former Force10 Networks chief executive Marc Randall has been named Brocade senior vice president of products and offerings.
Twenty-year networking industry veteran Dave Stevens has taken the reins of the Brocade Chief Technology Officer job.
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