"Broadcom has a track record of successfully integrating and growing companies we acquire, enabling us to offer customers a leading portfolio … Upon closing, the transaction is expected to be immediately accretive to Broadcom’s non-GAAP free cash flow and earnings per share. Broadcom ‘s $5.9 billion acquisition of network vendor Brocade Communications Systems is now complete, setting the stage for Arris to wrap its $800 million purchase of … For more information, go to www.broadcom.com. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction Broadcom’s and Brocade’s filings with the Securities and Exchange Commission (“SEC”), which you may obtain for free at the SEC’s website at http://www.sec.gov, and which discuss additional important risk factors that may affect their respective businesses, results of operations and financial conditions. Broadcom is paying $10.7 billion in … The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the proposed transaction (when they become available), and any other documents filed by Brocade with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov) or at Brocade’s website (http://www.brcd.com) or by contacting Brocade’s Investor Relations at (408) 333-6208 or scoli@brocade.com. Broadcom is likely to get more money from the Brocade acquisition, if it sells the technology it doesn't want separately. Latest News. This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom Limited (“Broadcom”) and its proposed acquisition (the “Acquisition”) of Brocade Communications Systems, Inc. (“Brocade”) and related matters. Broadcom to acquire Brocade for $5.9bn. Brocade is headquartered in San Jose, Calif. For more information about Brocade please visit http://www.brocade.com. Brocade is an American technology company specializing in storage networking products, now a subsidiary of Broadcom Inc. Management does not believe that the excluded items are reflective of the Company's underlying performance. Particular uncertainties that could materially affect future results include any risks associated with the Acquisition such as: (1) the risk that the conditions to the closing of the transaction are not satisfied, including the risk that required approvals from the stockholders of Brocade for the transaction or required regulatory approvals are not obtained; (2) litigation relating to the transaction; (3) uncertainties as to the timing of the consummation of the transaction and the ability of each party to consummate the transaction; (4) risks that the proposed transaction disrupts the current plans and operations of Brocade and Broadcom; (5) the ability of Brocade and Broadcom to retain and hire key personnel; (6) competitive responses to the proposed transaction; (7) unexpected costs, charges or expenses resulting from the transaction; (8) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction; (9) the ability to divest Brocade’s IP Networking business, (10) Broadcom’s ability to achieve the growth prospects and synergies expected from the transaction, as well as delays, challenges and expenses associated with integrating Brocade into Broadcom’s existing businesses and the indebtedness planned to be incurred in connection with the transaction; and (11) legislative, regulatory and economic developments. SINGAPORE and SAN JOSE, Calif., Nov. 02, 2016 (GLOBE NEWSWIRE) -- Broadcom Limited (Nasdaq:AVGO) and Brocade Communications Systems, Inc. (Nasdaq:BRCD) today announced that they have entered into a definitive agreement under which Broadcom will acquire Brocade, a leader in Fibre Channel storage area network (“FC SAN”) switching and IP networking, for $12.75 per share in an all-cash transaction valued at approximately $5.5 billion, plus $0.4 billion of net debt. The acquisition is expected to close within 60 days following the closing of Broadcom's acquisition of Brocade. In addition to GAAP reporting, Broadcom provides investors with certain information on a non-GAAP basis, including earnings before interest, taxes, depreciation and amortization (“EBITDA”). With the close of this transaction, Brocade’s storage area networking (SAN) business is now a highly strategic part of Broadcom’s enterprise storage portfolio. "Broadcom has a track record of successfully integrating and growing companies we acquire, enabling us to offer customers a leading portfolio of best-in-class franchises across a diverse set of technologies. “This strategic acquisition enhances Broadcom’s position as one of the leading providers of enterprise storage connectivity solutions to OEM customers,” stated Hock Tan, President and Chief Executive Officer of Broadcom. “With deep expertise in mission-critical storage networking, Brocade increases our ability to address the evolving needs of our OEM customers. In connection with the proposed Acquisition, Brocade intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a preliminary proxy statement on Schedule 14A. Made In NYC | Fresh from its merger with Avago Technologies, Broadcom reportedly is eyeing a possible acquisition of Brocade Communications Systems (). 1. Broadcom Limited's extensive product portfolio serves four primary end markets: wired infrastructure, wireless communications, enterprise storage and industrial & other. Broadcom to retain Brocade’s FC SAN Switching business and divest Brocade’s IP Networking business including Ruckus Wireless 3. The US$5.9bn deal was announced in November 2016 but the United States' Committee on Foreign Investment took a long, hard look at the deal because Broadcom supplies Cisco with key components for its Fibre Channel products. Chipmaker Broadcom (NASDAQ:AVGO) has announced an offer to acquire Brocade Communications (NASDAQ:BRCD) in all-cash deal valued at $5.9 billion (including $400 million of net debt). Commerce Policy | We will work with Broadcom as it seeks to find a buyer for our IP Networking business which includes a full portfolio of open, hardware and software-based solutions spanning the core of the data center to the network edge.”. Broadcom currently anticipates that Brocade’s FC SAN business will contribute approximately $900 million of pro forma non-GAAP EBITDA in its fiscal year 2018. Broadcom expects to fund the transaction with new debt financing and cash available on its balance sheet. Broadcom completes $5.9B Brocade acquisition, clearing the way for far larger target Qualcomm . Conference call date: November 2, 2016Time: 5:00am Pacific (8:00am Eastern)Dial in #: US (855) 631-5368, International +1 (330) 863-3283Passcode is 12480758. These forward-looking statements are based on current expectations and beliefs of the management of Broadcom, as well as assumptions made by, and information currently available to, such management, current market trends and market conditions and involve risks and uncertainties, many of which are outside Broadcom's and management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. ", "We are very excited to join the Broadcom team and provide compelling benefits for customers and new opportunities for Brocade's employees," said Jack Rondoni, General Manager, Brocade business unit. Applications for our products in these end markets include: data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems, and displays. Prior to the acquisition, the company expanded into adjacent markets including a wide range of IP/Ethernet hardware and software products. Brocade's common stock will now cease to be traded on NASDAQ. Such risks, uncertainties and assumptions include: any risks associated with loss of Broadcom's significant customers and fluctuations in the timing and volume of significant customer demand; Broadcom's dependence on contract manufacturers and outsourced supply chain; any acquisitions Broadcom may make, as well as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired companies with Broadcom's existing businesses and Broadcom's ability to achieve the benefits, growth prospects and synergies expected from such acquisitions, including Broadcom's completed acquisition of Brocade; Broadcom's ability to accurately estimate customers' demand and adjust Broadcom's manufacturing and supply chain accordingly; Broadcom's significant indebtedness; dependence on and risks associated with distributors of Broadcom's products; Broadcom's ability to improve its manufacturing efficiency and quality; increased dependence on a small number of markets; quarterly and annual fluctuations in operating results; cyclicality in the semiconductor industry or in Broadcom's target markets; global economic conditions and concerns; Broadcom's competitive performance and ability to continue achieving design wins with its customers, as well as the timing of those design wins; rates of growth in Broadcom's target markets; prolonged disruptions of Broadcom's or its contract manufacturers' manufacturing facilities or other significant operations; Broadcom's dependence on outsourced service providers for certain key business services and their ability to execute to its requirements; Broadcom's ability to maintain or improve gross margin; Broadcom's ability to maintain tax concessions in certain jurisdictions; Broadcom's ability to protect its intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product and warranty and indemnification claims; Broadcom's ability to sell to new types of customers and to keep pace with technological advances; market acceptance of the end products into which Broadcom's products are designed; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. ", Tan continued, "We are pleased to announce Jack's appointment as General Manager, and would like to welcome the outstanding team of employees at Brocade to the Broadcom family.

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