Wednesday, January 24, 2007

FTC Clears McData Acquisition

San Jose, California-based Brocade Communications Systems and Broomfield, Colorado-based McData said today that the United States Federal Trade Commission has closed its antitrust review of Brocade's acquisition of McDATA. The two also said that the waiting period under the Hart-Scott-Rodino Act has expired, and that special meetings for Brocade and McDATA shareholders to vote ont he deal will occur on the 25th. The combination of Brocade and McDATA will merge two of the largest companies in the storage area networking space. The $713M deal was originally announced in August of last year.