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:

Corporate/M&A:
Katie Martin
Marty Korman
Brad Finkelstein
Derek Liu
Andrew Kirkpatrick
Natalie Kim
Dennise Martinez

Employee Benefits and Compensation:
John Aguirre
Mark Cornillez-Ty
Jaqueline Tokuda

Privacy and Data Protection:
Matthew Staples
Wendell Bartnick

Finance and Structured Finance:
Erik Franks
Michael Occhiolini
Kathleen Rothman

Technology Transactions:
Selwyn Goldberg
John McGaraghan

Tax:
Ivan Humphreys
Myra Sutanto Shen

Antitrust:
Scott Sher
Ben Labow
Kellie Kemp
Chris Williams

Regulatory:
Don Vieira
Melissa Mannino
Kate McCarthy
Larry Perrone
Anne Seymour

Real Estate:
Susan Reinstra
Kimberly McMorrow
Sean Wilkinson

Employment Litigation:
Rebecca Stuart

For more information, please see the companies' joint press release.