Foundry Networks
{{Short description|American networking hardware vendor}}
{{For|the Christian organization called The Foundry Network|United Methodist Church#2020-2022 schisms}}
{{Infobox company
| name = Foundry Networks
| logo = Image:Foundry-networks-logo.JPG
| type = Subsidiary
| fate = Acquired by Brocade Communications Systems
| defunct = {{End date|2008|12|19}}
| foundation = 1996
| location = Santa Clara, California, USA
| key_people = Bobby R. Johnson, Jr.
| industry = Networking hardware|
| products = Switches, routers, application delivery controllers
| revenue = {{gain}} $607.205 million USD (2007)
| operating_income = {{gain}} $82.866 million USD (2007)
| net_income = {{gain}} $81.143 million USD (2007)
| num_employees = 1100 (2008)
| parent = Brocade Communications Systems
| homepage =
| footnotes =
}}
Foundry Networks, Inc. was a networking hardware vendor selling high-end Ethernet switches and routers. The company was acquired by Brocade Communications Systems on December 18, 2008.
History
Image:FoundryFastIronIIPlus.png
The company was founded in 1996 by Bobby R. Johnson, Jr. and was headquartered in Santa Clara, California, United States. In its first year the company operated under the names Perennium Networks and StarRidge Networks, but by January 1997 the name Foundry Networks was adopted. Foundry Networks had their initial public offering in 1999, during the Internet bubble, with the company reaching a valuation of $9 billion on its first day of trading on NASDAQ with the symbol FDRY.{{Cite news |title= Bobby Johnson, Foundry Networks |work= Byte and Switch |date= July 23, 2003 |url= http://www.lightreading.com/ip-convergence/bobby-johnson-foundry-networks/240018703 |access-date= July 19, 2013 }}
Foundry Networks designed, manufactured and sold high-end enterprise and service provider switches and routers, as well as wireless, security, and traffic management solutions. It was best known for its Layer 2 & 3 Ethernet switches. Foundry Networks was the first company to build and ship a gigabit Ethernet switch in 1997; to build a Layer 3 switch, also in 1997; to build the first Layer 4-7 switch in 1998 and to include 10 Gigabit Ethernet single connectors in its boxes (since 2001).{{Citation needed |date= July 2013}}
Foundry Networks early product lines consisted of the Workgroup, Backbone, and ServerIron products. The TurboIron all GigE switch and then router models were later introduced. Foundry Networks' later product lines consisted of the BigIron, EdgeIron, FastIron, IronPoint, NetIron, SecureIron, and ServerIron. After the early BigIron modular chassis, the Mucho Grande (MG) series chassis were introduced. Later the RX series in 4, 8, 16, and 32 slot versions. The largest and final product, the XMR was a full rack sized switch/router. Their software products included IronView and ServerIron TrafficWorks.
According to a Dell’Oro report published in 1Q2006, Foundry Networks ranked number 4 in a total market share of over US$3,659 million, and its ServerIron application switch ranked first for total port shipments.[https://web.archive.org/web/20090611101536/http://findarticles.com/p/articles/mi_qa4137/is_200503/ai_n13591705/ B NET Article - Foundry ServerIron App Switch keeps Worldwide Leadership (archived)][https://web.archive.org/web/20090611101536/http://findarticles.com/p/articles/mi_qa4137/is_200503/ai_n13591705/ B NET Article - Foundry ServerIron App Switch keeps Worldwide Leadership (archived)]{{Cite web |title= Ethernet Switch Market Retreats in the First Quarter of 2006 |publisher= Dell'Oro Group |date= May 17, 2006 |work= News release |url= http://www.delloro.com/news/2006/ES051706.htm |url-status=dead |archive-url= https://web.archive.org/web/20060527092541/http://www.delloro.com/news/2006/ES051706.htm |archive-date= May 27, 2006 |access-date= July 19, 2013 }}
Acquisition
On July 21, 2008, Foundry management agreed to allow the company to be acquired by storage networking company Brocade Communications Systems for approximately $3 billion in cash and stock.{{Cite web|title=Brocade to buy Foundry for $3 billion|url=https://www.networkworld.com/article/2273874/brocade-to-buy-foundry-for--3-billion.html|last=Lawson|first=Stephen|date=2008-07-21|website=Network World|language=en|access-date=2020-05-21}} On November 7, they agreed to a reduced purchase price of roughly $2.6 billion in an all-cash transaction when Brocade was unable to come up with a $400M tranche of financing required to complete the original deal.{{cite web|url=https://www.teamkci.com/hardware-sales/foundry/ |title=Foundry was acquired by Brocade Communications Systems on December 18, 2008 |publisher=teamkci.com}} A meeting was scheduled for December 17, 2008, where shareholders approved the amended agreement.[http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/12-17-2008/0004943779&EDATE= Foundry Networks Stockholders Approve Merger With Brocade] {{webarchive|url=https://web.archive.org/web/20090217060300/http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=%2Fwww%2Fstory%2F12-17-2008%2F0004943779&EDATE= |date=2009-02-17 }}
The acquisition was completed on December 18, 2008.{{Cite web|title=Brocade completes Foundry acquisition|url=https://www.infoworld.com/article/2654374/brocade-completes-foundry-acquisition.html|last=Lawson|first=Stephen|date=2008-12-19|website=InfoWorld|language=en|access-date=2020-05-21}}
Qatalyst Partners advised Brocade on financial matters, and Cooley Godward Kronish LLP was Brocade's legal adviser.{{Cite web |url=http://www.efytimes.com/efytimes/30969/news.htm |title=Brocade Completes Foundry Acquisition |access-date=2009-01-16 |archive-url=https://web.archive.org/web/20081227181144/http://www.efytimes.com/efytimes/30969/news.htm |archive-date=2008-12-27 |url-status=dead }} TJ Grewal, Jody Kirk, and Alex Lam were the deal leads on the Brocade team.
Brocade sold Foundry's FastIron Campus portfolio to Arris (Ruckus Networks){{Cite web |date=2017-02-22 |title=Brocade Sells Some Networking Assets to ARRIS for $800M |url=https://www.enterprisenetworkingplanet.com/management/brocade-sells-some-networking-assets-to-arris-for-800m/ |access-date=2022-04-19 |website=Enterprise Networking Planet |language=en-US}} and SRA portfolio to Extreme Networks in 2017.[https://investor.extremenetworks.com/news-releases/news-release-details/extreme-networks-acquire-brocades-data-center-networking?ReleaseID=1019294= Extreme Networks To Acquire Brocade's Data Center Networking Business]
See also
References
{{reflist}}
External links
- {{Cite web |title= Foundry Networks |work= Original web site |url= http://www.foundrynet.com/ |url-status=dead |archive-url= https://web.archive.org/web/20081217015222/http://www.foundrynet.com/ |archive-date= December 17, 2008 }}
- [http://www.townsendassets.com/company/foundry_marketshare.htm Article on Foundry Networks' market position]
- [http://www.networkworld.com/community/node/30262 Dell Oro Group take on Foundry and Brocade merger] {{Webarchive|url=https://web.archive.org/web/20130610091309/http://www.networkworld.com/community/node/30262 |date=2013-06-10 }}
Category:Networking companies of the United States
Category:Networking hardware companies
Category:Technology companies based in the San Francisco Bay Area
Category:Companies based in Santa Clara, California
Category:Electronics companies established in 1987
Category:Computer companies established in 1987
Category:Computer companies disestablished in 2008
Category:1987 establishments in California
Category:2008 disestablishments in California
Category:Defunct manufacturing companies based in the San Francisco Bay Area
Category:Defunct computer companies of the United States