The networking space also offers rich pickings, according to the analyst, who highlights switch maker F5 Networks ( FFIV), and Wide Area Network (WAN) optimizer Riverbed ( RVBD) as particularly attractive. With firms pushing more and more data across global networks, there is a lot of interest in WAN optimization, but Gruia feels that Riverbed's $1.62 billion market cap could be a deterrent to potential suitors. F5 Networks would be even more expensive, with a valuation of $3.2 billion, although Gruia also likes Aruba ( ARUN) and Starent Networks ( STAR). "Starent are strong competitors in the mobile content space," he said, speculating that they could be a good fit for Juniper ( JNPR) or Cisco. Two names, however, are popping up repeatedly in tech M&A discussions. "Brocade would make sense for H-P because it would give them storage networking and high-end IP networking," said Gruia. 451Group analyst Brenon Daly echoed this sentiment. "What do H-P and Brocade both have in common? They both square off against Cisco," he explained. "Brocade is a key component of networking infrastructure." Both H-P and Brocade declined to comment on the rumors linking the two firms when recently contacted by TheStreet, although storage certainly seems to be a busy space. NetApp, for example, has also been generating plenty of buzz after losing out to EMC ( EMC) in the tussle to acquire Data Domain ( DDUP). One company said to be eyeing a storage play is Dell. Praveen Asthana, the firm's vice president of enterprise storage, would not rule out M&A in an interview with TheStreet earlier this week.