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Fly News Breaks for April 4, 2016
RKUS, BRCD
Apr 4, 2016 | 14:23 EDT
Craig-Hallum analyst Chad Bennett said Brocade's (BRCD) agreement to acquire Ruckus Wireless (RKUS) makes strategic sense and the addition of wireless technology to Brocade's portfolio lends credibility to the company's quest to become a "real" player in software-defined networking and network function virtualization. The analyst, who notes that the companies have been working together for two years, expects integration to be "relatively seamless." Bennett keeps a Buy rating and $11 price target on Brocade shares.
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