JP Morgan Positive On Brocade Communications' Intent To Acquire SteelApp Assets

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Brocade Communications Systems, Inc.BRCD
on Thursday announced its intent to acquire the SteelApp assets of
Riverbed Technology, Inc.RVBD
. In a note on Friday, JP Morgan's Rod Hall commented that the SteelApp generated around $55 million of revenue in 2014, implying approximately 2 percent upside to the current fiscal 2015 revenue and earning per share estimates of $2.28 billion and $0.94, respectively, for Brocade. Hall also states that while SteelApp is small, it is a "solid" soft-ADC solution and an acquisition "makes sense" in conjunction with Brocade's Vyatta routing software.
Posted In: Analyst ColorAnalyst RatingsJP MorganRod HallSteelAppVyatta
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