Brocade is diverting its SAN-generated cash to become a viable software networking player.
Brocade’s third-quarter fiscal 2017 results were weak as expected as a secular decline in its core SAN storage business was compounded by estimated expenditures related to pending divestitures and restructuring expenses. Brocade anticipates its merger with Broadcom to close during its fiscal fourth-quarter 2017, and received approval from China’s Ministry of Commerce in the quarter. Now it hopes to receive a final nod of approval from the Committee on Foreign Investment in the United States. Alt...
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