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Created November 21, 2016

Broadcom Limited and Brocade Communications Systems have entered into a definitive agreement under which Broadcom will acquire Brocade, a leader in Fibre Channel storage area network 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.

Broadcom is planning to divest Brocade’s IP Networking business, consisting of wireless and campus networking, data centre switching and routing, and networking software.

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