Broadcom Completes Acquisition of Brocade
Broadcom said on Friday it closed its acquisition of network gear maker Brocade Communications Systems Inc, giving it a larger share of the data center products market.
Brocade's common stock will now cease to be traded on NASDAQ. Brocade will operate as an indirect subsidiary of Broadcom and will be led by Jack Rondoni as General Manager. Previously, Rondoni served as Senior Vice President of Storage Networking at Brocade, having joined the company in 2006. Rondoni brings over 20 years of experience in storage, networking and technology.
Broadcom, formerly Avago Technologies, is trying to become the dominant chip supplier. It is known for its connectivity chips used in products ranging from mobiles to servers.
Brocade makes networking switches, software and storage products.
"We are pleased to complete this transaction, which strengthens Broadcom's position as a leading provider of enterprise storage and networking solutions and enables us to better serve our OEM customers," said Hock Tan, President and Chief Executive Officer of Broadcom. "Broadcom has a track record of successfully integrating and growing companies we acquire, enabling us to offer customers a leading portfolio of best-in-class franchises across a diverse set of technologies. We intend to invest in and grow the Brocade business to further enhance its capabilities in mission-critical storage networking."
Broadcom, which made a $103 billion unsolicited bid for smartphone chip supplier Qualcomm earlier this month that was rejected, agreed to buy Brocade in November of last year. It won U.S. antitrust approval for the deal in July.