Broadcom acquires Gadzoox assets

Broadcom said Monday that it has acquired many of the assets of bankrupt storage networking company Gadzoox Networks for $5.8 million.

In January, Broadcom made a bid for the company's technology and product line. Gadzoox, which specialized in Fibre Channel technology, enjoyed a blockbuster initial stock offering in 1999, but struggled in recent years to keep up with competitors such as Emulex and Qlogic.