Report: Arris Near Deal To Acquire Brocade's Networking Business

(RTTNews) - Set-top box maker Arris International Plc is near to buy Brocade Communications Systems Inc's networking equipment business for roughly $1 billion, according to Reuters, citing people familiar with the matter.

The deal is expected to be announced as early as Wednesday, the sources claim. However, there is chance that the deal may or may not materialize.

The acquisition of Brocade's networking equipment business will add a suite of products to Arris' portfolio that can serve areas with high demand for bandwidth, such as universities and airports.

Last year, Brocade agreed to be acquired by chipmaker Broadcom for $5.5 billion in cash, pending regulatory approval.

Broadcom plans to sell Brocade's networking business to avoid direct competition with its customer Cisco Systems Inc.