Brocade reignites hunt for buyer, say reports

WSJ claims storage and networking outfit could sell up to a private equity firm

Brocade is thought to be scouting for potential buyers, with private equity houses set to lead the chase, according to a Wall Street Journal report.

The WSJ, citing "people familiar with the matter", claims the networking and storage vendor has retained the services of investment bank Qatalyst Partners to try to find a suitable acquirer.

This follows an ultimately unsuccessful attempt by the finance specialist to generate interest two years ago. Brocade told the WSJ that it does not comment on rumour or speculation.

The California-based vendor added a range of networking wares to its core SAN technology when it acquired Foundry Networks for $2.6bn (£1.6bn) in 2008. The WSJ report claims that, since possible interested parties Dell and HP have bought network players in the past couple of years, the search this time is likely to focus on private equity outfits.

Brocade's current market capitalisation is hovering above $2bn. Sales for its 2010 fiscal year stood at $2.1bn.