Brocade Communications Systems
 |
|
| Public | |
| Traded as |
NASDAQ: BRCD S&P 400 Component |
| Industry | Networking Hardware and Software |
| Founded | 1995 |
| Headquarters | San Jose, California, United States |
|
Key people
|
Lloyd Carney (CEO) |
| Products | Fibre Channel backbones, switches, and adapters; SAN extension and encryption; network management applications; Ethernet fabric solutions; IP routing, switching, application traffic management, security, and wireless mobility products |
| Revenue |
 $2.263 billion USD (FY15) |
|
Number of employees
|
4,712 (As of February 17, 2016) |
| Website | www.brocade.com |
Brocade Communications Systems, Inc. is an American technology company specializing in data and storage networking products. Originally known for its Fibre Channel storage networks, the company expanded include a wide range of products marketed as third platform technologies. Offerings included routers and network switches for data center, campus and carrier environments, IP and Fibre Channel storage network fabrics; Network Functions Virtualization (NFV) and software-defined networking (SDN) markets such as a commercial edition of the OpenDaylight Project controller; and network management software that spans physical and virtual devices.
On November 2, 2016, Singapore-based chip maker Broadcom announced they were buying Brocade for about $5.5 billion.
Brocade was founded in August 1995, by Seth Neiman (a venture capitalist, a former executive from Sun Microsystems and a professional auto racer), Kumar Malavalli (a co-author of the Fibre Channel specification) and Paul R. Bonderson (a former executive from Intel Corporation and Sun). Neiman became the first CEO of the company. Brocade was incorporated on May 14, 1998, in Delaware.
The company's first product, SilkWorm, which was a Fibre Channel switch, was released in early 1997.
On May 25, 1999, the company went public at a split-adjusted price of $4.75. On initial public offering (IPO), the company offered 3,250,000 shares, with an additional 487,500 shares offered to the underwriters to cover over-allotments. The top three underwriters (based on number of shares) for Brocade's IPO were, in order, Morgan Stanley Dean Witter, BT Alex.Brown, and Dain Rauscher Wessels. Brocade stock traded in the National Market System of the NASDAQ GS stock market under the ticker symbol BRCD. A second generation of switches was announced in 1999.
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