Citi Upgrades Brocade (BRCD) to Buy

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Brocade Communications (BRCD) to Acquire Riverbed's (RVBD) SteelApp Line

February 5, 2015 5:06 PM EST

Brocade Communications (NASDAQ: BRCD) announced its intent to acquire Riverbed Technology's (NASDAQ: RVBD) SteelApp product line in an all-cash asset transaction. SteelApp is one of the top virtual ADCs providing scalable, secure, and elastic delivery of enterprise, cloud, and e-commerce applications. The SteelApp product line controls traffic to and from applications and enables fast, reliable, and secure application delivery to users anywhere from the cloud or data center.

Under the terms of the agreement, Brocade will acquire the assets of the SteelApp business unit, and SteelApp... More