Storage network equipment maker Brocade has bought Silverback Systems for its network acceleration processor technology.
"Silverback’s technology and expertise in iSCSI environments will help us to deliver a new set of cost-effective products that broaden the Brocade product portfolio," said Dan Crain, chief technology officer of Brocade, in a prepared statement.
This is the third acquisition for Brocade in the last 10 months. It bought NuView in March of last year for an undisclosed price and announced plans in August to acquire McData for $713 million. The McData deal is still pending.
Brocade has also been caught up in the stock options backdating scandal affecting more than 100 US companies. Brocade's former CEO, Gregory Reyes, and two other former executives were charged with securities fraud in July 2006 in federal District Court. They had been forced out of Brocade in 2005, and the company had to restate earnings, due to alleged accounting irregularities. Brocade is facing federal civil charges in connection with the case.
Brocade did not say on Monday how much it paid for privately held Silverback, but said it was "not material," meaning it's not enough money to have to be reported to shareholders.
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