Brocade has announced the completion of its acquisition of Foundry Networks. Foundry adds their BigIron switches and ServerIron load balancers to Brocade’s existing SAN equipment.
This has been a bit of a fraught acquisition, as they recently announced (November 7, 2008) the signing of an amendment to the original agreement between the two organisations. Foundry stockholders will get $16.50/share now the deal has closed, as announced in October to reduce the acquisition price to $2.6bn. It would appear that the $1.1bn loan Brocade sourced to support the deal wasn’t quite enough to cover the original asking price of $3bn.
Brocade’s Press Release on completing the acquisition of Foundry is available.