News Article | February 27, 2017
BARCELONA, Spain, Feb. 27, 2017 /PRNewswire/ -- Mobile World Congress -- Ruckus Wireless, a part of Brocade, and Intersection, an urban experience company, today announced a partnership aimed at bringing free high-speed public Wi-Fi to city streets and transit hubs around the globe....
News Article | February 28, 2017
LONDON, UK / ACCESSWIRE / February 28, 2017 / Active Wall St. blog coverage looks at the headline from Brocade Communications Systems, Inc. (NASDAQ: BRCD). Ruckus Wireless, a part of Brocade Communication Systems, announced on February 27, 2017, a collaboration where it has agreed to work with Amdocs (NASDAQ: DOX), a leading software, and service to communication provider, to deliver customizable and managed cloud Wi-Fi service to service providers across the world. The Ruckus Service Provider banks on industry-leading access points and cloud-managed and hosted, virtualized software platform to deliver vertically integrated Wi-Fi and LTE offerings as managed services. Register with us now for your free membership and blog access at: Today, AWS is promoting its blog coverage on BRCD and DOX. Get all of our free blog coverage and more by clicking on the link below: This collaboration with Amdocs is viewed as an opportunity to deliver advanced solutions to clients, which provide added flexibility and customization. Amdocs, owing to its operation span of more than 30 years, is competent enough to deliver managed services to communications and media service providers. Amdocs is set to strengthen Ruckus's portfolio and expand the Company's efforts to enable service providers with Wi-Fi and LTE solutions. This agreement is beneficial to the service providers as it offers minimal operational expenses with reduced internal R&D investment and ongoing lifecycle management to deliver differentiated solutions rapidly. In other words, service providers will now have the feasibility to customize managed services offering for unique needs where they can install it in the cloud of their choice and integrate it with multiple management systems and support packages. This collaboration with Amdocs is viewed as an opportunity to deliver a level of differentiation and control for wireless LAN offerings, not yet experienced by a majority of service providers before. The collaboration is set to strengthen Company's stronghold into the sector while creating new market diversification opportunities for both the Companies. Amdocs currently operates across more than 85 countries with a workforce of 25,000 employees. For the FY16, Amdocs reported net full-year revenues of $3.7 billion. Ruckus Wireless, a part of Brocade, additionally announced an agreement with Intersection, an urban experience Company, on February 27, 2017, to deliver high-speed public Wi-Fi to city streets and transit hubs around the globe. The Company aims to bank on the rapidly developing smartphone and IoT infrastructure where it would deliver free, sustainable connectivity through the convergence of world-class wireless technology, digital services, and a viable business model, backed by advertising. Ruckus plans to leverage the portfolio and infrastructure from the lead Company behind LinkNYC, to deliver free gigabit public Wi-Fi while using reliable and high-performance connection from the Company. LinkNYC is probably the largest and fastest free public Wi-Fi initiative in the world. The project is set to be expanded to London and other cities across the United Kingdom. Ruckus Wireless, in addition to the Public Wi-Fi initiative and solutions for service providers, announced a fully customized solution to deliver high-value managed services for enterprise customers on February 27, 2017. Ruckus's flagship service, Ruckus Service Provider (SP) Cloud is a managed service offering aimed at delivering enterprise Wi-Fi through the Company's industry-leading access points while designing platform for the upcoming LTE service through the Ruckus' OpenG technology, and wired networking through Brocade ICX switches. Ruckus SP Cloud enables service providers to deliver as per their brand value while monitoring the required resources and fastening the time-to-market gap while enabling them to develop one of the largest and fastest growing presences in the enterprise managed services market. Ruckus SP Cloud is designed to be customizable, deployable, and managed by system integrators while offering a flexible and cost-effective platform for multiple high-performance enterprises managed networking services. Prior to this agreement, last week, on February 22, 2017, Arris International PLC (NASDAQ: ARRS) announced an agreement where ARRIS along with Broadcom will acquire Brocade Communication Systems Inc.'s Ruckus Wireless and ICX Switch business for approximately $800 million, excluding the additional unvested employee stock awards. Ruckus's portfolio is set to be accretive to Broadcom's platform where the Company would deliver wired and wireless networking technologies across multiple institutions. Brocade has aimed for inorganic growth in the public sector by offering free Wi-Fi services while leveraging on advertising for revenues, hence executing a definitive growth strategy to deliver added cash inflows for the Company. Brocade released its Q1 FY17 results on February 23, 2017, where it reported net revenues of $581 million for the three-month period. At the close of trading session on February 27, 2017, Brocade Communications Systems' share price finished the trading session at $12.32, slightly sliding 0.08%. A total volume of 2.95 million shares exchanged hands. The stock has advanced 19.03% and 26.71% in the last six months and past twelve months, respectively. Furthermore, the stock is trading at a PE ratio of 44.32 and has a dividend yield of 1.79%. At Monday's closing price, the stock's net capitalization stands at $5.03 billion. At the closing bell, on Monday, February 27, 2017, Amdocs' stock marginally climbed 0.07%, ending the trading session at $60.80. A total volume of 970.71 thousand shares were traded at the end of the day, which was higher than the 3-month average volume of 641.45 thousand shares. In the last month and previous twelve months, shares of the Company have advanced 3.81% and 7.10%, respectively. Moreover, the stock gained 4.38% since the start of the year. 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News Article | February 23, 2017
SAN JOSE, CA--(Marketwired - Feb 23, 2017) - Brocade® ( : BRCD) today reported financial results for its first fiscal quarter ended January 28, 2017. Brocade reported first quarter revenue of $581 million, up 1% year-over-year and down 12% quarter-over-quarter. The Company reported a GAAP loss per share of $0.01, down from diluted earnings per share (EPS) of $0.23 and $0.16 in Q1 2016 and Q4 2016, respectively. Non-GAAP diluted EPS was $0.16 for Q1 2017, down from non-GAAP diluted EPS of $0.29 and $0.33 in Q1 2016 and Q4 2016, respectively. The year-over-year decline in both GAAP and non-GAAP diluted EPS primarily reflects lower SAN revenue and lower IP Networking wired switch and router revenue, offset by the added revenue from the Ruckus Wireless acquisition. The sequential decline in both GAAP and non-GAAP diluted EPS is primarily due to lower IP Networking revenue, attributed in part to customer uncertainty surrounding the pending acquisition of Brocade by Broadcom Limited ("Broadcom") and Broadcom's publicly announced post-closing plan to divest Brocade's IP Networking business. In addition, both the year-over-year and sequential quarterly declines in GAAP diluted EPS reflect the inclusion of certain acquisition-related expenses that negatively impacted Q1 2017 results. In light of the pending Broadcom acquisition, Brocade will not provide fiscal Q2 2017 guidance and will not hold a conference call to discuss these financial results. In addition, on February 22, 2017, Broadcom and ARRIS International plc announced that they have reached an agreement for ARRIS to acquire Brocade's Ruckus Wireless and ICX campus switch businesses. This transaction is expected to be completed after the close of Broadcom's acquisition of Brocade. Please see important note of explanation about the use of non-GAAP financial measures below, including a detailed reconciliation between GAAP and non-GAAP information in the tables included herein. Other Q1 2017 product, customer, and partner announcements are available at http://newsroom.brocade.com/. Financial Highlights and Additional Financial Information Please see important note of explanation about the use of non-GAAP financial measures below, including a detailed reconciliation between GAAP and non-GAAP information in the tables included herein. Non-GAAP Financial Measures To supplement financial information presented on a GAAP basis, Brocade provides information presented on a non-GAAP basis. These non-GAAP financial measures include non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP operating income, non-GAAP tax rate, non-GAAP net income, and non-GAAP EPS. These non-GAAP financial measures are not computed in accordance with, or as an alternative to, financial information presented on a GAAP basis. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measures. The most directly comparable GAAP information and a reconciliation between the GAAP and non-GAAP amounts is provided in the tables at the end of this press release. Management believes that the non-GAAP financial measures used in this press release allow management to gain a better understanding of Brocade's comparative operating performance, both from period to period and relative to its competitors. These non-GAAP financial measures also help with the determination of Brocade's baseline performance before gains, losses or charges that are considered by management to be outside of ongoing operating results. Accordingly, management uses these non-GAAP financial measures for planning and forecasting of future periods and in making decisions regarding operations and the allocation of resources. Management believes these non-GAAP financial measures, when read in conjunction with Brocade's GAAP financials, provide useful information to investors by offering: In determining non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP operating income, non-GAAP tax rate, non-GAAP net income and non-GAAP EPS, management excludes certain gains or losses and benefits or costs that are the result of events that arise outside the ordinary course of Brocade's continuing operations. Management believes that it is appropriate to evaluate Brocade's operating performance by excluding those items that are not indicative of ongoing operating results or limit comparability. Such items include, but are not limited to: (i) impact to cost of revenues from purchase accounting adjustments to inventory; (ii) acquisition and integration costs; and (iii) restructuring and other related benefits. Management also excludes the following non-cash charges in determining these non-GAAP financial measures: (i) stock-based compensation expense; (ii) amortization of purchased intangible assets; and (iii) non-cash interest expense related to the convertible debt. Management believes that the exclusion of stock-based compensation allows for more accurate comparisons of Brocade's operating results to Brocade's peer companies. This is due to the varying use of valuation methodologies and subjective assumptions and the variety of award types. In addition, the exclusion of the expense associated with the amortization of acquisition-related intangible assets is appropriate because a significant portion of the purchase price for acquisitions may be allocated to intangible assets that have short lives, and the exclusion of amortization expense allows comparisons of operating results that are consistent over time for Brocade's newly acquired and long-held businesses. In connection with the convertible debt, under the relevant accounting guidance, a non-cash interest expense is recognized for the convertible debt as an imputed interest expense for the conversion feature. Management believes excluding the non-cash interest expense related to the convertible debt from its non-GAAP financial measures is useful for investors because the expense does not represent a cash outflow in the respective reporting periods and is not indicative of ongoing operating performance. Finally, management believes that it is appropriate to exclude the tax effects of the items noted above and (i) tax charges and benefits related to unusual or infrequent intercompany transactions; (ii) tax charges or benefits that are a result of the implementation of restructuring plans; and (iii) tax charges resulting from the integration of intellectual property assets from acquisitions. Management believes that the exclusion of these items from its non-GAAP tax provision provides a more meaningful measure of Brocade's operational performance of non-GAAP net income and non-GAAP EPS. Limitations: These non-GAAP financial measures have limitations because they do not include all items of income and expense that impact the company. In addition, these non-GAAP financial measures may not be comparable to similar measurements reported by other companies. Management compensates for these limitations by relying primarily on its GAAP results and using non-GAAP financial measures only supplementally. Management also provides robust and detailed reconciliations of each non-GAAP financial measure to its most directly comparable GAAP measure, and management encourages investors to review carefully those reconciliations. Forward-Looking Statements This press release contains forward-looking statements including, but not limited to, statements regarding Brocade's financial results, goals, plans, strategy, business outlook and prospects. These statements are based on current expectations as of the date of this press release and involve a number of risks, uncertainties and assumptions that may cause actual results to differ significantly. The risks, uncertainties and assumptions include, but are not limited to: the effect on Brocade of increasing market competition and changes in the industry; the impact on Brocade of conditions in the market for Storage Area Networking products; Brocade's ability to execute on its sales strategy and plans for future operations; the impact on Brocade of macroeconomic trends and events and changes in IT spending levels; Brocade's ability to introduce and achieve market acceptance of new products and support offerings on a timely basis; risks associated with Brocade's international operations; and integration and other risks associated with acquisitions, divestitures and strategic investments. The risks, uncertainties and assumptions also include, but are not limited to: the risk that the proposed acquisition by Broadcom may not be completed in a timely manner or at all, which may adversely affect Brocade's business and the price of the common stock of Brocade; the failure to satisfy any of the conditions to the consummation of the proposed transaction, including the receipt of certain governmental and regulatory approvals; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the effect of the announcement or pendency of the proposed transaction on Brocade's business relationships, operating results and business generally; risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed transaction; risks related to diverting management's attention from Brocade's ongoing business operations; the outcome of legal proceedings that have been and may in the future be instituted against us related to the merger agreement or the proposed transaction; and unexpected costs, charges or expenses resulting from the proposed transaction. Certain of these and other risks are set forth in more detail in Brocade's Annual Report on Form 10-K for the fiscal year ended October 29, 2016. 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 ( : BRCD) networking solutions help the world's leading organizations turn their networks into platforms for business innovation. With solutions spanning public and private data centers to the network edge, Brocade is leading the industry in its transition to the New IP network infrastructures required for today's era of digital business. (www.brocade.com) Brocade and the B-wing symbol are registered trademarks of Brocade Communications Systems, Inc., in the United States and many other countries. Other brands, products, or service names mentioned herein may be trademarks of Brocade or others. Additional information about Brocade's trademarks is available at: http://www.brocade.com/en/legal/brocade-Legal-intellectual-property/brocade-legal-trademarks.html.
News Article | February 27, 2017
BARCELONA, Spain, Feb. 27, 2017 /PRNewswire/ -- Mobile World Congress -- Ruckus Wireless, a part of Brocade, today announced Ruckus Service Provider (SP) Cloud, a fully customizable solution for service providers to deliver high-value managed services to their customers. Ruckus SP Cloud...
News Article | February 16, 2017
The Wireless Innovation Forum today announced two events focused on the U.S. 3.5GHz Citizens Broadband Radio Service (CBRS) band. The first is a free webinar on 23 February on the newly released signaling protocols and procedures to be used in band. On 30 March, the Forum will host a workshop at IWCE 2017 on Building and Ecosystem for the CBRS Band. The webinar, featuring speakers from Ericsson, Federated Wireless, Google, and Nokia will provide an overview of and take questions on the Forum’s Spectrum Sharing Committee’s (SSC) recently released standards that are the first of their kind addressing the new FCC Part 96 rules for CBRS. Publication of these standards represents a major milestone for enabling U.S. commercialization of the band. Access to spectrum under the Part 96 rules is managed in the CBRS band through the use of a Spectrum Access System (SAS), which protects incumbents from interference from lower tier priority access license (PAL) and general authorized access (GAA) users, and protects PAL users from interference from other PAL users and GAA users. More information on and registration for the webinar can be found at http://www.wirelessinnovation.org/ssc-protocols-webinar. The workshop will feature a full day program with leading industry speakers, including: 1) Workshop introduction and video presentation: Nokia, Alphabet, Qualcomm Demonstrate Private LTE Network on CBRS Spectrum by Lee Pucker, CEO, The Wireless Innovation Forum 2) Tutorial Presentation a. Overview of CBRS: Andy Clegg, Spectrum Engineering Lead, Google Fiber b. CBRS Standards: Prakash Moorut, North America Spectrum Lead, Nokia c. CBRS Certification: Kurt Schaubach, CTO, Federated Wireless d. Transition from Part 90 to Part 96: Panel Discussion/Moderator: Richard Bernhardt, National Spectrum Advisor, WISPA 3) Ecosystem Presentations a. Comsearch – Mark Gibson b. Federated Wireless – Kurt Schaubach c. Google – Andy Clegg d. Nokia – Chris Stark e. Telrad – Chris Daniels f. Ruckus Wireless - Juan Santiago g. Ericsson - Sree Koratala h. Cambium Networks - Scott Imhoff More information on the workshop can be found here: http://bit.ly/IWCEWorkshop. Announced in February 2015, the SSC supports five working groups, each collaborating working on separate aspects of a common goal: to ensure that the 3.5 GHz band can be successfully commercialized. The SSC working groups are: Wireless Innovation Forum’s Spectrum Sharing Committee was specifically formed to develop the solutions and standards that will encourage rapid development of the CBRS ecosystem, protect incumbent operations, and benefit all potential stakeholders in the band. The SSC benefits from participation of a broad-based group that includes wireless carriers, network equipment manufacturers, potential SAS Administrators, satellite operators, existing 3650-3700 MHz band licensees, and other parties with an interest in the 3550 MHz band. The committee has formed multiple sub-groups/task groups, including a Joint WG1/WG3 architecture group and an FSS Incumbent Protection Subgroup under WG1. Participation in the committee’s multiple sub-groups/task groups currently encompasses some 277 participants from over 60 different organizations. Work products from the committee can be found here: http://www.wirelessinnovation.org/ssc-public-files. The Wireless Innovation Forum welcomes all interested organizations to participate in our committees. To learn more about membership options or to apply for membership in the group please visit: http://www.wirelessinnovation.org/join. Established in 1996, The Wireless Innovation Forum (SDR Forum Version 2.0) is a non-profit mutual benefit corporation dedicated to advocating for spectrum innovation, and advancing radio technologies that support essential or critical communications worldwide. Members bring a broad base of experience in Software Defined Radio (SDR), Cognitive Radio(CR) and Dynamic Spectrum Access (DSA) technologies in diverse markets and at all levels of the wireless value chain to address emerging wireless communications requirements. To learn more about The Wireless Innovation Forum, its meetings and membership benefits, visit http://www.WirelessInnovation.org.
News Article | February 24, 2017
ARLINGTON, Va.--(BUSINESS WIRE)--Federated Wireless announced today that its spectrum controller has been granted conditional certification from the Federal Communications Commission (FCC). This is a significant step that signals to operators that they can begin trials with the Federated Wireless solution, and a step that leads to full certification expected in the second quarter of this year. The Federated Wireless solution unlocks a spectrum of possibilities by breaking down barriers to wireless spectrum, giving greater access to operators by creating a shared model for what was previously individually licensed. The certification cements Federated Wireless’ first mover status and allows it to provide operators with highly efficient and secure access to spectrum resources, when they need it. “The FCC’s conditional certification of our spectrum controller demonstrates solid momentum in the shared spectrum market as we transition from defining a concept to developing market-ready solutions that give operators of any size a flexible and cost-effective option for accessing wireless spectrum,” said Iyad Tarazi, CEO of Federated Wireless. “This market is growing at an unprecedented pace. All four major US operators have joined the Citizens Broadband Radio Service (CBRS) Alliance. The standards are in place, and FCC certification is poised to begin. We are excited to be part of making the FCC’s vision a reality. Our spectrum controller allows a monumental transformation in wireless spectrum to be realized, enabling a new wave of innovation and business models to be created.” In today’s wireless-reliant world, spectrum is finite and quickly running out. In fact, the President’s Council of Advisors on Science and Technology (PCAST) predicts the number of devices connected to mobile networks worldwide will grow tenfold by 2020, from 5 billion to 50 billion, further straining spectrum and presenting greater issues. The economy needs better allocation and a solution that will facilitate multiple operators coexisting and leveraging spectrum. Federated Wireless’ spectrum controller allows spectrum to be allocated as needed, eliminating the need for operators to purchase entire bands of dormant spectrum, which is a lengthy process with high acquisition costs of up to billions of dollars. By enabling spectrum to be effectively allocated, managed and optimized, the spectrum controller allows a shared model to be created on the 3.5 GHz band, which was recently unlocked by the FCC. The spectrum controller is a 100 percent cloud-based solution that eliminates the need for specialized hardware. A robust set of APIs and patented machine learning and spectrum management algorithms simplify CBRS deployments, helping businesses to improve both time-to-market and time-to-revenue while decreasing development costs. Federated Wireless offers standardized subscription costs no matter the size of the organization, ensuring operators only pay for the capacity used. Federated Wireless has been a pioneer in preparing the 3.5 GHz band for commercial use, working closely with the United States Department of Defense and the FCC, and co-founding the CBRS Alliance, an organization focused on developing the 3.5 GHz ecosystem. The conditional certification milestone comes after five years of leading the creation of the shared spectrum market, developing necessary standards and ensuring customer deployments can be successful in all markets. Federated Wireless has completed trials and demonstrations with a number of companies, including Alphabet, Nokia, Ruckus Wireless, SpiderCloud Wireless, Siemens, Telrad and Airspan, among others. The spectrum controller is currently undergoing trials for a variety of applications with more than two dozen operators and equipment vendors. Federated Wireless is on track to reach full regulatory approval from the FCC in the first half of 2017 and plans to have commercial customers by the end of 2017. Federated Wireless is unlocking a spectrum of possibilities by breaking down barriers to wireless spectrum, giving greater access to operators by creating a shared model for what was previously individually licensed. Headquartered in Arlington, Virginia, Federated Wireless is an influential first mover in the industry that has spent the last 5 years leading the creation of the shared spectrum market from the ground up, developing and nurturing the necessary standards, and working to ensure that customer deployments can be successful in all network environments. More information can be found at www.federatedwireless.com.
News Article | November 3, 2016
Broadcom's chipmaking empire is about to grow even broader, with the company stating Wednesday it will be buying network gear maker Brocade for $5.9 billion. Brocade specialises in data storage and networking, while Broadcom provides connectivity components, like Wi-Fi chips, to companies like Apple, HTC and LG. The move comes at a time where data centres are increasingly important, thanks to the advent of the Internet of Things (IoT). IoT technology is responsible for connecting regular old objects, like lights, fridges and dishwashers, to the internet. As more appliances become smart, and autonomous cars drive in our near future, greater data storage is needed. There have been some big moves made in the chipset industry. Just last year, Broadcom merged with fellow chipmaker Avago in a $37 billion deal, Earlier this year, Broadcom acquired Ruckus Wireless for $1.2 billion.
News Article | February 15, 2017
SAN FRANCISCO, Feb. 15, 2017 /PRNewswire/ -- RSA Conference 2017, Booth N4410 -- Ruckus Wireless™, a part of Brocade, today announced version 5.1 of its Cloudpath™ ES security and policy management software. The latest software release enables organizations to automatically and securely...
News Article | February 16, 2017
SAN FRANCISCO, Feb. 16, 2017 /PRNewswire/ -- RSA Conference 2017, Booth N4410—Ruckus Wireless™, a part of Brocade, today announced new integrations between its Cloudpath™ software and products from leading network security vendors. The Cloudpath security and policy management platform...
News Article | February 27, 2017
BARCELONA, Spain, Feb. 27, 2017 /PRNewswire/ -- Mobile World Congress -- Ruckus Wireless, a part of Brocade, today announced a collaboration with Amdocs, a leading provider of software and services to communications and media companies, to deliver a customizable, managed cloud Wi-Fi...