Wednesday, June 1, 2005

Sun Acquires StorageTek for $4.1 Billion

Sun Microsystems agreed to acquire StorageTek in a deal valued at $4.1 billion, including the assumption of employee stock options. Sun expects the transaction to be accretive to non-GAAP earnings in the first 12 months following the closing.

Sun offers a line of storage and networking products, including the Sun StorEdge 6920 storage system, a platform for virtualization and data services on almost any vendor's storage system.

StorageTek offer a line of data protection and intelligent archive products, including its Storage Resource Management software and virtual tape solutions.

Together, the companies said they can offer customers a complete range of products, services and solutions available for securely managing mission-critical data assets. The companies plan to provide a systems approach to Information Lifecycle Management (ILM), helping customers better manage their growing privacy, security, compliance and policy requirements.

See also