Editing Foundry Networks (section)

== Acquisition==
On July 21, 2008, Foundry management agreed to allow the company to be acquired by storage networking company [[Brocade Communications Systems]] for approximately $3 billion in cash and stock.<ref>{{Cite web|title=Brocade to buy Foundry for $3 billion|url=https://www.networkworld.com/article/2273874/brocade-to-buy-foundry-for--3-billion.html|last=Lawson|first=Stephen|date=2008-07-21|website=Network World|language=en|access-date=2020-05-21}}</ref> On November 7, they agreed to a reduced purchase price of roughly $2.6 billion in an all-cash transaction when Brocade was unable to come up with a $400M tranche of financing required to complete the original deal.<ref name=“acquisition”>{{cite web|url=https://www.teamkci.com/hardware-sales/foundry/ |title=Foundry was acquired by Brocade Communications Systems on December 18, 2008 |publisher=teamkci.com}}</ref> A meeting was scheduled for December 17, 2008, where shareholders approved the amended agreement.<ref>[http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/12-17-2008/0004943779&EDATE= Foundry Networks Stockholders Approve Merger With Brocade] {{webarchive|url=https://web.archive.org/web/20090217060300/http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=%2Fwww%2Fstory%2F12-17-2008%2F0004943779&EDATE= |date=2009-02-17 }}</ref>

The acquisition was completed on December 18, 2008.<ref>{{Cite web|title=Brocade completes Foundry acquisition|url=https://www.infoworld.com/article/2654374/brocade-completes-foundry-acquisition.html|last=Lawson|first=Stephen|date=2008-12-19|website=InfoWorld|language=en|access-date=2020-05-21}}</ref>

Qatalyst Partners advised Brocade on financial matters, and Cooley Godward Kronish LLP was Brocade's legal adviser.<ref>{{Cite web |url=http://www.efytimes.com/efytimes/30969/news.htm |title=Brocade Completes Foundry Acquisition |access-date=2009-01-16 |archive-url=https://web.archive.org/web/20081227181144/http://www.efytimes.com/efytimes/30969/news.htm |archive-date=2008-12-27 |url-status=dead }}</ref> TJ Grewal, Jody Kirk, and Alex Lam were the deal leads on the Brocade team.

Brocade sold Foundry's FastIron Campus portfolio to [[Arris International|Arris]] ([[Ruckus Networks]])<ref>{{Cite web |date=2017-02-22 |title=Brocade Sells Some Networking Assets to ARRIS for $800M |url=https://www.enterprisenetworkingplanet.com/management/brocade-sells-some-networking-assets-to-arris-for-800m/ |access-date=2022-04-19 |website=Enterprise Networking Planet |language=en-US}}</ref> and SRA portfolio to [[Extreme Networks]] in 2017.<ref>[https://investor.extremenetworks.com/news-releases/news-release-details/extreme-networks-acquire-brocades-data-center-networking?ReleaseID=1019294= Extreme Networks To Acquire Brocade's Data Center Networking Business]</ref>