Foundry Networks shareholders have approved a merger with Brocade Communications, overcoming what appears to be the last major hurdle in a deal that had been questioned as stock and credit markets plunged.
Brocade Communications Systems on Tuesday secured a $1.1 billion loan to fund its acquisition of Foundry Networks despite a tightening of credit markets amid the Wall Street meltdown.
With its acquisition of Ethernet vendor Foundry Networks expected to close by year's end, Brocade is painting itself as the alternative to Cisco that IT administrators have been looking for.
Brocade Communications Systems' planned US$3 billion acquisition of Foundry Networks is a major strategic move in a brewing war over the future of data-center connectivity, industry analysts said Tuesday.
Storage networking company Brocade Communications Systems has agreed to acquire enterprise LAN vendor Foundry Networks for approximately US$3 billion, the companies announced Monday.
Sidekick: The Good News & the Bad News Either way you look at it Microsoft Data Center management did not follow standards or best practices in this failure. In which case it makes me wonder more about the outsourcing of corporate data much less personal data.
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Brocade to buy Foundry for $3 billion
Brocade deal to help drive data-center transition
Brocade gearing up to fight 'Cisco fatigue'
Brocade gets loan to fund Foundry buyout
Foundry shareholders OK merger with Brocade