Broadcom to Divest Part of Brocade to Extreme Networks

Broadcom will sell Brocade’s data center switching, routing and analytics business to Extreme Networks after Broadcom completes buying Brocade (see 1611020050), the companies said in a Wednesday news release. Extreme agreed to pay $55 million cash for Broadcom’s divestiture. The companies said they expect to close the deal 60 days after Broadcom closes on Brocade. The divestiture is subject to regulatory OK but doesn't require any shareholder approvals, they said.