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Brocade to buy McData for £400m

Storage area networking supplier Brocade is acquiring rival McData for $713m (£396m) in shares.

Storage area networking supplier Brocade is acquiring rival McData for $713m (£396m) in shares.

Following the deal, Brocade aims to deliver $100m a year in synergy savings through job cuts and other savings.

McData is to become a subsidiary of Brocade, with the McData name being retained along with its San Jose headquarters.

Brocade chief executive officer Michael Klayko said, “This combination will accelerate the pace of innovation, enable us to build stronger relationships with our customers and partners, and provide greater scale and efficiencies to accelerate our growth.

“We believe this is a strategic combination that will benefit our customers,” he said.

John Kelley, McData chief executive officer, said the deal provided customers with investment protection for their McData solutions, and “a clear path to next-generation data centre products and technologies”.

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