Ruckus Wireless (RKUS)

[ciciagt]

Brocade to Acquire Ruckus Wireless to Build a Networking Company for the Digital Transformation Era
Enhances Brocade's position as a pure-play networking company, addressing critical networking requirements from the data center to the wireless network edge
- Combined company expected to be #1 in storage area networking, #1 in service provider Wi-Fi, #2 in data center networking, #3 in enterprise wireless LAN, and #3 in enterprise edge networking in the U.S. and EMEA
- Transaction expected to be accretive to Brocade's non-GAAP earnings by Q1 FY17
- Brocade increases stock repurchase authorization by $800 million
PR Newswire Ruckus Wireless; Brocade
23 minutes ago

SAN JOSE, Calif., April 4, 2016 /PRNewswire/ -- Brocade (BRCD) and Ruckus Wireless (RKUS) today announced that Brocade has entered into a definitive agreement to acquire Ruckus Wireless, Inc. in a cash and stock transaction. The acquisition will complement Brocade's enterprise networking portfolio, adding Ruckus' higher-growth, wireless products to Brocade's market-leading networking solutions. It will also significantly strengthen Brocade's strategic presence in the broader service provider space, with Ruckus' market-leading Wi-Fi position. Brocade expects the transaction to be accretive to its non-GAAP earnings by its first quarter of fiscal 2017. The Ruckus organization will be led by current Ruckus CEO, Selina Lo, and report directly to Brocade CEO, Lloyd Carney.