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Broadcom to buy Brocade for $5.5B

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Chipmaker Broadcom Ltd. announced today plans to buy network gear maker Brocade Communications Systems Inc.

The deal is valued at $5.5 billion in cash.

Singapore-based Broadcom, formerly called Avago, is known for its connectivity chips, while California-based Brocade makes networking hardware, software and storage products.

Read more from Reuters.

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