Brocade acquires McDATA Corporation at $ 1.3bln

New Delhi, Mar 6 (UNI) Brocade, a leading provider of networked storage solutions has completed the acquisition of McDATA Corporation at about 1.3 billion dollars.

In conjunction with the completion of the acquisition, the company also launched a new company branding initiative and announced an additional 200 million dollars stock repurchase authorisation.

The combination of Brocade and McDATA creates the world's leading storage networking company with significant benefits for customers, partners, and shareholders.

The company plans to deliver new levels of interoperability and SAN management to protect and extend customers' investments as they evolve and grow their data centres, a statement said.

The acquisition also brings Brocade important new skills and resources that will allow it to further broaden its range of solutions and services to its customers and OEM partners.

''I am very pleased with the integration and planning work we have already completed which will allow us to fully integrate the combined companies quickly,'' company's Chief Financial Officer Richard Deranleau said.

UNI