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Brocade to Buy Foundry

SAN JOSE and SANTA CLARA, Calif. -- Brocade(R) (Nasdaq: BRCD) today announced a definitive agreement to purchase Foundry Networks(R), Inc. (Nasdaq: FDRY), a performance and total solutions leader for network switching and routing. The acquisition will position Brocade as a leading provider of enterprise and service provider networking solutions, with innovative technology and product leadership from the Internet to the heart of data centers.

The acquisition will bring together two financially strong companies in complementary technology sectors and allow the combined entity to better address today's customer needs, as well as the evolution toward converged networks. Brocade also believes that the combined company will be well-positioned to create unique synergies, and to leverage the respective technologies, customer segments, and distribution channels of the two companies to accelerate growth and innovation in key markets.

"Through this deal, Brocade has now uniquely positioned itself in the networking industry to deliver a leading, alternative solutions portfolio spanning local, metro, wide and storage area networks," said Zeus Kerravala, senior vice president, Global Enterprise Research at the Yankee Group. "The breadth and depth of this portfolio make Brocade a viable option for customers looking for complete networking solutions capable of addressing their constantly evolving and increasingly complex IT challenges."

Brocade Communications Systems Inc.