Brocade to buy McData for £400m


Brocade to buy McData for £400m

Antony Savvas

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”.

Vote for your IT greats

Who have been the most influential people in IT in the past 40 years? The greatest organisations? The best hardware and software technologies? As part of Computer Weekly’s 40th anniversary celebrations, we are asking our readers who and what has really made a difference?

Vote now at:

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy