Ruckus Wireless Inc. (NYSE: RKUS) shares soared the most in four years after Brocade Communications Systems Inc. (Nasdaq: BRCD) said it will buy the wireless network equipment maker in a deal that values it at about $1.5 billion. Ruckus shareholders will get $6.45 in cash and 0.75 of Brocade common share for each Ruckus share, according to a statement from the companies Monday.
That values Ruckus at about $1.5 billion, based on Brocade’s closing stock price on April 1. The transaction value is about $1.2 billion, “net of estimated cash acquired,” according to the statement. Shares in Sunnyvale, California-based Ruckus jumped as much as 33 percent to $13.30 at in New York.