The Deal
Monday, December 1, 
1:20 pm

[Posted on July 23, 2008 - 5:30 PM]

foundrynetworks.jpgWe've got a relatively complete list of the advisers on Brocade Communications Systems Inc.'s [BRCD] $3 billion agreement to buy Foundry Networks Inc.[FDRY], announced Monday.

On the Brocade side, Bank of America Securities' Sean Rogers and Georg Schoendorff provided financial advice. Cooley Godward Kronish LLP's Rick Climan led a legal team that included partners Jane Ross, Joe Scherer, Mischi a Marca and Tom Reicher. Brocade vice president of corporate development T.J. Grewal, vice president and general counsel Tyler Wall and CEO Mike Klayko led the deal negotiations. As he did with Brocade's $973 million McData Corp. acquisition in 2007, Grewal will lead the Foundry integration efforts.

Klayko joined Brocade in 2003 after the company paid $174 million to buy Rhapsody Networks Inc., where he was president and CEO. Ironically, before joining Rhapsody Klayko was an executive vice president at McData.

Foundry turned to Merrill Lynch's Gary Kirkham, Jack MacDonald, David King, Michael Altmin and Patrick Fannon for financial advice. Heller Ehrman LLP's Steven Tonsfeldt led Foundry's outside legal team, which included Kristen Kircher, Mark Windfeld-Hansen, special counsel Stuart Pixley and Richard Grimm. Inside deal negotiators at Foundry included founder, president and CEO Bobby Johnson and chief financial officer Daniel Fairfax.

Tonsfeldt last year advised another networking target, IronPort Systems Inc., in its $830 million acquisition by Brocade's top competitor, Cisco Systems Inc. [CSCO] Schloendorff, who along with Rogers left Citigroup in 2004 to join BofA's tech banking team, recently advised Avnet Inc. on its $161 million purchase of Horizon Technology Group plc. -- Olaf de Senerpont Domis

See July 22 story on Brocade-Foundry deal from TheDeal.com
See January 2007 story on Cisco's purchase of IronPort from TheDeal.com

 


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