(Bloomberg) -- Broadcom Ltd., whose chips are used in Apple Inc.’s iPhone and TV set-top boxes, agreed to buy Brocade Communications Systems Inc. for $5.9 billion including debt to capitalize on booming demand for cloud computing and the data centers that deliver it.
Broadcom is acquiring Brocade for technology that links computer-storage systems and allows the fast transfer of data, the company said in a statement today. It will sell off Brocade’s other networking-equipment businesses to avoid competing with its existing customers.
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