Broadcom buys the company Brocade Communications Systems for $ 5.9 billion

Confirming recently published information about a possible purchase of Brocade Communications company Broadcom last issued press release.

In a press release said that the parties signed an agreement, under which Broadcom will acquire Brocade, and paid for all shares of $ 5.5 billion and paying off debt in the amount of 0.4 billion dollars. To Finance the purchase of the Broadcom collected due to the new loan and its own funds. The new owner plans to divide Brocade, leaving himself the direction of Brocade that is associated with the release of the switches for the fiber-optic storage area networks (FC SAN). The direction of IP Networking will be sold to another buyer, finding that Broadcom and Brocade will do together.

The transaction is expected in the second half of the 2017 financial year. This period Broadcom began on 31 October. Of course, to complete the transaction must obtain the approval of shareholders and regulators.

Source: Broadcom

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