Jim Cramer Likes Broadcom's Deal to Buy Brocade for $5.5 Billion
Broadcom continues to broaden its business with the purchase of Brocade, according to Jim Cramer.
Jim Cramer likes Broadcom's (AVGO) - Get Report $5.5 billion deal to buy Brocade (BRCD) , a network gear maker. "Broadcom once again is doing very smart things," said Cramer. "They seem to be incapable of doing dumb things." Cramer says the acquisition means that Broadcom is going for an end to end solution for the Internet of Things, and is further diversifying away from cellphones. Cramer also likes that Brocade is selling some other businesses that he didn't like. Cramer is portfolio manager of the Action Alerts PLUS charitable trust.
