Son of SAN - Storage Networking Technologies Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Son of SAN - Storage Networking Technologies

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Gus who wrote (4654)	11/5/2002 7:05:34 PM
From: stockman_scott	Read Replies (1) of 4808

Brocade to buy closely held Rhapsody for $175 million Tuesday November 5, 5:27 pm ET SAN JOSE, Calif., Nov 5 (Reuters) - Data storage networking company Brocade Communications Systems Inc. (NasdaqNM:BRCD - News) agreed on Tuesday to buy closely held Rhapsody Networks for about $175 million in stock, adding additional storage switches to Brocade's own storage switching products. Brocade said it will buy Rhapsody for 23.4 million shares of Brocade common stock, or about 10 percent of Brocade's shares outstanding as of November 5. Brocade said that, assuming the transaction is completed by January of next year, it will hurt fiscal 2003 earnings per share by 9 cents, excluding one-time charges associated with the acquisition. On a pro forma basis, Brocade said it expects the acquisition to add to earnings in the third of fourth quarter of fiscal 2004. Shares of Brocade fell 6 cents to $7.41 on Nasdaq before the company announced the acquisition, which came after the close of regular U.S. trade.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next