Broadcom Limited to Acquire Brocade Communications Systems, Inc. for $5.9 Billion
On November 2, 2016, Broadcom Limited, a leading designer, developer, and global supplier of analog and digital semiconductor connectivity solutions, and Brocade Communications Systems, Inc., a leader in fibre channel storage area network switching and IP networking, announced that they have entered into a definitive agreement under which Broadcom will acquire Brocade for $12.75 per share in an all-cash transaction valued at approximately $5.5 billion, plus $0.4 billion of net debt. Wilson Sonsini Goodrich & Rosati is representing Brocade in the transaction.
Broadcom, with the support of Brocade, plans to divest Brocade's IP networking business, which consists of wireless and campus networking, data center switching and routing, and software networking solutions. Brocade's board of directors and the executive committee of Broadcom's board of directors have unanimously approved the transaction, which is expected to close in the second half of Broadcom's fiscal year 2017, subject to regulatory approvals, customary closing conditions, and the approval of Brocade's stockholders.
The WSGR team representing Brocade includes:
Employee Benefits and Compensation:
Privacy and Data Protection:
Finance and Structured Finance:
Myra Sutanto Shen
For more information, please see the companies' joint press release.