Brocade Completes Acquisition of Foundry Networks

SAN JOSE, Calif. – Dec. 19, 2008 – Brocade today announced that it has completed its acquisition of Foundry Networks, a performance and total solutions leader for network switching and routing for $16.50 per share in cash. The addition of Foundry’s products and technologies enables Brocade to better address the needs of its customers and strengthens the company’s position as a proven, high-performance networking leader.

“The close of the Foundry acquisition will significantly enhance our ability to deliver on our mission of connecting the world’s most important information,” said Mike Klayko, Brocade CEO. “Brocade will now be able to offer a comprehensive IP and data center networking solution portfolio capable of addressing emerging market technology trends while meeting the needs of the world’s most demanding, data-intensive organizations.”

Foundry was founded in 1996 and has approximately 1100 employees with operations in all major geographies. Foundry employees and the company’s products and technologies will be integrated throughout Brocade according to function.

Qatalyst Partners advised Brocade on financial matters and Cooley Godward Kronish LLP was Brocade’s legal advisor.