Brocade Completes Acquisition of Foundry Networks
San Jose, Calif. (pts037/19.12.2008/17:27) Brocade® (NASDAQ: BRCD) today announced that it has completed its acquisition of Foundry Networks, a performance and total solutions leader for network switching and routing for $16.50 per share in cash. The addition of Foundry's products and technologies enables Brocade to better address the needs of its customers and strengthens the company's position as a proven, high-performance networking leader.
"The close of the Foundry acquisition will significantly enhance our ability to deliver on our mission of connecting the world's most important information," said Mike Klayko, Brocade CEO. "Brocade will now be able to offer a comprehensive IP and data center networking solution portfolio capable of addressing emerging market technology trends while meeting the needs of the world's most demanding, data-intensive organizations."
Foundry was founded in 1996 and has approximately 1100 employees with operations in all major geographies. Foundry employees and the company's products and technologies will be integrated throughout Brocade according to function.
Qatalyst Partners advised Brocade on financial matters and Cooley Godward Kronish LLP was Brocade's legal advisor.
For more information about the Brocade acquisition of Foundry, please watch the video interview of Mike Klayko at http://www.youtube.com/watch?v=njmeDfrMZC8 For more company information, visit http://www.brocade.com/extraordinary .
Data Center Networking Leader Brocade Names Two New Executives to Critical Posts as Foundry Acquisition Closes
Social Media Tags: Marc Randall, Dave Stevens, Brocade, Foundry, Executive, Data Center, Storage Area Networks, SAN, IP, Fibre Channel, Ethernet, WAN, LAN, Networks, Switch, Router, Director, FCoE, HBA, DCX, Fabric OS, File Management Engine, StorageX, DCFM, SAN Health
SAN JOSE, Calif., Dec. 19, 2008 -- Brocade® (NASDAQ: BRCD) today announced the following executive appointments:
Facts
Marc Randall named Brocade Senior Vice President of Products and Offerings:
Networking industry veteran with more than 25 years of experience in the high-tech sector
Spent eight years at Force10 Networks, where he served as CEO from 2003 to 2008 and led the company from less than $10 million (USD) to $150 million in annual revenues
Served seven years at Cisco Systems as Vice President of Engineering, where he led the development of the Cisco 7500 Series router
Served 13 years at Amdahl Corporation in various engineering leadership positions
Holds a BS in Electronics Engineering Technology
Dave Stevens named Brocade Chief Technology Officer (CTO):
Networking industry veteran with more than 20 years of experience in the high-tech sector
Most recently was Founder and CEO of Palo Alto Networks
Previously served at Brocade from 2003 to 2004 as Vice President and CTO of Brocade Transport Systems (after joining Brocade through the acquisition of Rhapsody Networks in 2003, where he was Vice President of Business Development)
Served in senior management positions at Atmosphere Networks, Bay Networks , Nortel, and SynOptics
Holds both a BS and an MS in Electrical Engineering
Quotes
"The three key success factors for the next 12 months are the integration of Foundry, as measured by employee retention, market share growth, and increased revenue," said Marc Randall, Brocade Senior Vice President of Products and Offerings. "The second element is broadening the Brocade brand. Our goal is to ensure that 'Brocade' and 'networking leadership' are one in the same. The third element is partnering. We have to build a very strong partner program. If we have those three elements in the next 12 months, we will clearly be on the way to huge successes."
"With these two companies together, you will see us implement best practices from every area of the network infrastructure, from service providers to campus LANs to the data center," said Dave Stevens, Brocade Chief Technology Officer. "The result will be combined technologies that leverage everything from switching architectures and ASICS to command line interfaces, routing code, and operating system services. The objective is to develop a family of converged infrastructure solutions that enable our customers to experience a consistent level of performance, quality, network services, and management interfaces from end to end."
Videos
http://www.youtube.com/watch?v=3FOC-Jjf4tk (Marc Randall)
http://www.youtube.com/watch?v=ZyC-0zZx08M (Dave Stevens)
Photos (All Sizes)
Marc Randall, Brocade Senior Vice President of Products and Offerings
http://www.flickr.com/photos/33437642@N02/3119093941/sizes/l/in/photostream/
Dave Stevens, Brocade Chief Technology Officer (CTO)
http://www.flickr.com/photos/33437642@N02/3115859743/sizes/l/in/photostream/
About Brocade
Brocade® (Nasdaq: BRCD) develops the highest-performance, most cost-effective, and most reliable networking solutions that enable today's complex, data-intensive organizations to optimize information connectivity and maximize the business value of their data. For more information, visit http://www.brocade.com .
Pressekontakt
Brocade Communications GmbH
Christine Schmidt
Martin-Kollar-Str. 15
81829 München
Tel: 089/ 427411-24
Fax: 089/4274 11-99
Email: cschmidt@brocade.com
TC Communications
Thilo Christ
Feldstraße 1
84405 Dorfen (b. München)
Tel: 08081/954617
Fax: 08081/954618
Email: thilo.christ@tc-communications.de
| Aussender: | TC Communications |
| Ansprechpartner: | Thilo Christ |
| Tel.: | +49(0)8081 954617 |
| E-Mail: | thilo.christ@tc-communications.de |
