HP or Oracle named as potential buyer
HP or Oracle Corp could mount a bid for Brocade Communications Systems Inc, the largest maker of switches for data-storage networks, according to media reports.
A report in The Wall Street Journal indicated that the company has put itself up for sale, though the paper said no bid looked imminent.
In August the company produced numbers that showed it managed 35% year-over-year revenue growth in its last full quarter, and reported cash reserves touching $750 million.
The company’s stock price today appears to have been fuelled by news of a potential takeover, with the data storage hardware maker now valued in excess of $3 billion.
Based in San Jose, California it produces hardware and software for data centres and networking that are distributed by the likes of EMC, HP and IBM.
Just last month Brocade announced it would be broadening its partnership with Dell to sell its computing, networking and storage products through the Dell global sales organisation.