Brocade buys Ruckus Wireless for $1.2 billion

Brocade has agreed to buy Ruckus Wireless for $1.2 billion. Shareholders of Ruckus Wireless will received $6.45 in cash and 0.75 shares of Brocade for every share of Ruckus. Based on the purchase price, Ruckus Wireless is valued at $14.43 per share. Ruckus Wireless went public in November 2012 at $15 per share. It hit a high of $24.97 in February 2013, but has been trading between $10 and $15 most of the time.