money
Photograph by Getty Images

Networking Gear Maker Brocade Is In Advanced Acquisition Talks

Oct 31, 2016

Network gear maker Brocade Communications is in advanced talks to sell itself, Bloomberg reported on Monday, citing people familiar with the matter.

Broadcom is one of the interested potential buyers and an acquisition of Brocade could be announced as soon as this week, according to the Bloomberg report.

Brocade's shares (brcd) were up 20.7% at $10.49 in afternoon trading. At Friday's close of $8.69, the company had a market capitalization of about $3.5 billion.

Brocade and Broadcom did not immediately respond to requests for comment.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions