Broadcom buying Brocade Communications in $5.5B deal

NEW YORK — Chipmaker Broadcom is buying Brocade in a deal valued at approximately $5.5 billion.

Brocade shareholders will receive $12.75 per share, a 13 per cent premium to the Tuesday closing prices of the computer networking company.

The deal also includes $400 million in debt.

Broadcom Ltd. plans to sell Brocade’s IP Networking business, which includes wireless and campus networking, data centre switching and routing and software networking solutions. Brocade CEO Lloyd Carney said the company will work with Broadcom to try to find a buyer for the IP Networking business.

The deal, targeted to close in the second half of Broadcom’s fiscal 2017, is not conditioned on the sale of the IP Networking business. It still needs approval from shareholders of Brocade Communications Systems Inc.

Nighttime construction on Hwy 3 in Lethbridge starts April 17

Apr 17, 2025

SASHA launches #BuyABed fundraiser to support vulnerable Lethbridge residents

Apr 04, 2025

$20K grants available: TELUS STORYHIVE Pan-Asian Edition opens applications April 1

Mar 18, 2025

The Associated Press

For local news delivered daily to your email inbox, subscribe for free to the Lethbridge News Now newsletter here. You can also download the Lethbridge News Now mobile app in the Google Play and the Apple App Stores.