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Technology Stocks : Son of SAN - Storage Networking Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Gus who wrote (4654)	10/31/2002 10:29:14 AM
From: George Dawson	Read Replies (1) \| Respond to of 4808

So the data storage sector is starting to feel the pain because the market doesn't support enough new venture capital backed companies? That is quite a theory. What about the FC IPOs that everyone was trying to buy a few years ago? George D.

To: Gus who wrote (4654)	11/5/2002 7:05:34 PM
From: stockman_scott	Read Replies (1) \| Respond to 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.