Wednesday, January 24, 2007

FTC Clears McData Acquisition By Brocade

The FTC has cleared the acquisition of McData by San Jose-based Brocade Communications Systems, according to the firms. San Jose-based Brocade is acquiring storage area networking competitor McDATA in a $713M deal, putting together two of the storage market's largest providers of networking equipment. Both companies provide high end storage are network switches, used to connect Fibre Channel storage area networking equipment. The firms said that the United States Federal Trade Commission has closed its antitrust review of Brocade's acquisition of McDATA, and that that the waiting period under the Hart-Scott-Rodino Act has expired. Shareholders of the two firms are set to vote on the deal on the 25th