Brocade Communications acquires Foundry Networks

By Lisa Kerner

Charlotte, N.C., Dec. 19 - Brocade Communications Systems, Inc. completed its $16.50-per-share acquisition of Foundry Networks Inc., it was announced on Friday.

The transaction was valued at about $2.6 billion.

It was previously reported that Foundry would pay a special cash dividend of about $0.249 per share to its shareholders immediately prior to the merger's close.

Foundry is a Santa Clara, Calif.-based provider of network switching and routing. Brocade is a San Jose, Calif., network storage equipment company.

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