Brocade to acquire Foundry in $3 Billion deal

Summary: Brocade has said it will acquire Foundry Networks, a company that does enterprise and service provider switching and routing, in a deal valued at $3 billion.The acquisition, which still needs final approval, comes on the heels of corporate problems for Brocade, notably the criminal misconduct sentence handed down against former CEO Gregory Reyes and a $160 million payment to settle a federal securities lawsuit tied to the company's stock-option backdating processes.

By Sam Diaz for Between the Lines | July 21, 2008 -- 16:02 GMT (09:02 PDT)

Follow @ZDNet

Brocade has said it will acquire Foundry Networks, a company that does enterprise and service provider switching and routing, in a deal valued at $3 billion.

The acquisition, which still needs final approval, comes on the heels of corporate problems for Brocade, notably the criminal misconduct sentence handed down against former CEO Gregory Reyes and a $160 million payment to settle a federal securities lawsuit tied to the company's stock-option backdating processes.

The companies expect the deal to be finalized later this year.

Topics: IT Employment, Banking, CXO

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Talkback

2 comments

Log in or register to join the discussion

Ethernet Simplicity Winning

This acquisition confirms to me that Ethernet simplicity will be the long-term winner in the data center.

http://blog.tmcnet.com/the-hyperconnected-enterprise/data-center/brocade-foundry-acquisition-confirms-ethernet-simplicity-will-win.asp

TonyRyb

24 July, 2008 10:59

Reply Vote

RE: Brocade to acquire Foundry in $3 Billion deal

I wished to many thanks for this astonishing publish .I certainly favored every single small little bit of it. We have you bookmarked your term vast web site web-site to get a consider <a href="http://www.reebok-nfljerseys.com/" style="text-decoration: none; color: black;">nfl jerseys usa</a> the latest things you location.

tomlin21-24319035676893835085146735905770

11 October, 2011 10:31

Reply Vote

The best of ZDNet, delivered

White Papers, Webcasts, & Resources

Ten Errors to Avoid When Commissioning a Data Center

Proper execution of the commissioning process is a critical step for your data center. This paper outlines the ten most common errors that prevent successful execution of the commissioning process.
Three Ways to Improve Your Data Storage Capabilities

Whether you're thinking of switching to the cloud or just searching for a scalable solution, this guide will offer best practice tips and strategies for improving data storage.
Benefits of Consolidating on New IBM System x 2-Socket Servers

Read this white paper to see how consolidating with IBM's 2-socket servers can help reduce cost, complexity and improve performance especially in virtualized environments.