Julio Urquidi
News Editor
[Ed. note: We missed this news last week! Sorry!]
In a $1.5B cash and stock deal expected to close in Q3 2016, Brocade will cross into new territory and expand its reach into wireless networking. With Brocade already known as a SAN vendor, the acquisition of Ruckus Wireless will now place the storage networking company at a higher networking market tier in areas such as enterprise, hospitality, campus, and service provider wireless, according to Brocade.
In the joint announcement between CEOs Lloyd Carney (Brocade) and Selina Lo (Ruckus), customers are told that the acquisition will not produce any near-term changes, and that Ruckus products will still be sold and supported by Ruckus Wireless.
For investors, the pair had this to say; “[The acquisition] also aligns very well with both companies’ mobile strategies and positions us to win in emerging opportunities like 5G services, Internet of Things (IoT), Smart Cities, and more.”
