Brocade and McDATA Stockholders Approve Acquisition
January 25 2007 - 5:06PM
PR Newswire (US)
SAN JOSE, Calif. and BROOMFIELD, Colo., Jan. 25
/PRNewswire-FirstCall/ -- Brocade Communications Systems, Inc.
(NASDAQ:BRCD) and McDATA Corporation (NASDAQ:MCDTA/MCDT) today
announced that the stockholders of each company have approved
Brocade's proposed acquisition of McDATA at their respective
special stockholder meetings held today. Of the approximately 68.53
percent of outstanding Brocade shares that were voted,
approximately 98.50 percent were cast in favor of the issuance of
Brocade common stock in connection with Brocade's proposed
acquisition of McDATA Corporation. Of the approximately 71.23
percent of outstanding McDATA Class A and B shares that were voted,
approximately 98.86 percent were cast in favor of the acquisition.
Pursuant to the terms of the acquisition agreement, each share of
McDATA Class A and B common stock will be exchanged for 0.75 shares
of Brocade common stock on the closing of the transaction. The
acquisition is expected to close on Monday, January 29, 2007.
Cautionary Statement This press release contains statements that
are forward-looking in nature, including statements regarding the
anticipated completion of Brocade's proposed acquisition of McDATA.
These statements are based on current expectations on the date of
this press release and involve a number of risks and uncertainties,
which may cause actual results to differ significantly from such
estimates. The risks include, but are not limited to, the risk that
transaction does not close. These and other risks are set forth in
more detail in "Item 1A. Risk Factors" in Brocade's Annual Report
on Form 10-K for the fiscal year ended October 28, 2006. Brocade
does not assume any obligation to update or revise any such
forward-looking statements, whether as the result of new
developments or otherwise. About Brocade Brocade is the leading
provider of networked storage solutions that help organizations
connect, share, and manage their information. Organizations that
use Brocade products and services are better able to optimize their
IT infrastructures and ensure compliant data management. For more
information, visit the Brocade Web site at http://www.brocade.com/
or contact the company at . About McDATA McDATA is the leading
provider of data access solutions, helping customers build,
globally connect, optimize and centrally manage data
infrastructures across SAN, MAN and WAN environments. With nearly
25 years experience developing SAN products, services and
solutions, McDATA is the trusted partner in the world's largest
data centers, connecting more than two-thirds of all networked
data. Brocade, the Brocade B weave logo, Fabric OS, File Lifecycle
Manager, MyView, Secure Fabric OS, SilkWorm, and StorageX are
registered trademarks and Tapestry is a trademark of Brocade
Communications Systems, Inc., in the United States and/or in other
countries. FICON is a registered trademark of IBM Corporation in
the U.S. and other countries. All other brands, products, or
service names are or may be trademarks or service marks of, and are
used to identify, products or services of their respective owners.
IMPORTANT ADDITIONAL INFORMATION HAS BEEN FILED WITH THE SEC
Brocade has filed with the SEC a Registration Statement on Form S-4
in connection with the transaction and Brocade and McDATA have
filed with the SEC and have mailed to their respective stockholders
a Joint Proxy Statement/Prospectus in connection with the
transaction. The Registration Statement and the Joint Proxy
Statement/Prospectus contain important information about Brocade,
McDATA, the transaction, and related matters. Investors and
security holders are urged to read the Registration Statement and
the Joint Proxy Statement/Prospectus carefully. Investors and
security holders may obtain free copies of the Registration
Statement and the Joint Proxy Statement/Prospectus and other
documents filed with the SEC by Brocade and McDATA through the web
site maintained by the SEC at http://www.sec.gov/ . In addition,
investors and security holders may obtain free copies of the
Registration Statement and the Joint Proxy Statement/Prospectus
from Brocade by contacting Investor Relations at 408-333-5752 or
investor- or from McDATA by contacting Investor Relations
408-567-5815 or . Brocade and its directors and executive officers
may be deemed to be participants in the solicitation of proxies
from the stockholders of Brocade and McDATA in connection with the
transaction described herein. Information regarding the special
interests of these directors and executive officers in the
transaction described herein is included in the Joint Proxy
Statement/Prospectus described above. Additional information
regarding these directors and executive officers is also included
in Brocade's proxy statement for its 2006 Annual Meeting of
Stockholders, which was filed with the SEC on or about February 24,
2006. This document is available free of charge at the SEC's web
site at http://www.sec.gov/ and from Brocade by contacting Brocade
at Investor Relations at 408-333-5752 or . McDATA and its directors
and executive officers also may be deemed to be participants in the
solicitation of proxies from the stockholders of Brocade and McDATA
in connection with the transaction described herein. Information
regarding the special interests of these directors and executive
officers in the transaction described herein is included in the
Joint Proxy Statement/Prospectus described above. Additional
information regarding these directors and executive officers is
also included in McDATA's proxy statement for its 2006 Annual
Meeting of Stockholders, which was filed with the SEC on or about
June 9, 2006. This document is available free of charge at the
SEC's web site at http://www.sec.gov/ and from McDATA by contacting
McDATA at Investor Relations 408-567-5815 or . DATASOURCE: Brocade
Communications Systems, Inc. CONTACT: media, Michelle Leach,
+1-408-333-5319, or , or investors, Shirley Stacy, +1-408-333-5752,
or , both of Brocade; or Mat Small, of Bite PR, +1-415-365-0398, or
, for Brocade; or media, Jil Backstrom, +1-720-558-4774, or , or
investors, Renee Lyall, +1-408-567-5815, or , both of McDATA Web
site: http://www.brocade.com/
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