Welcome to the MacNN Forums.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

You are here: MacNN Forums > News > Tech News > Oracle snaps up Acme Packet Inc for $2.1 billion

Oracle snaps up Acme Packet Inc for $2.1 billion
Thread Tools
MacNN Staff
Join Date: Jul 2012
Status: Offline
Reply With Quote
Feb 4, 2013, 02:40 PM
 
In a bid to solidify its networking hardware business, Oracle is intending to purchase equipment manufacturer Acme Packet Inc from Bedford, MA for $2.1 billion. The deal is Oracle's largest acquisition since it purchased Sun Microsystems for $7 billion, and follows a year rife with purchases, all pointing to a greater emphasis on the hardware aspects of its business in the future.

Topeka Capital Markets analyst Brian White said of the purchase that Oracle will "make a bigger push into the networking market as convergence across the IT world appears to be inevitable and today's deal supports this notion." According to an Oracle statement regarding the deal, the merger will "accelerate the migration to all-IP networks by enabling secure and reliable communications from any device, across any network." The deal has been unanimously approved by Acme Packets' board of directors, is expected to clear regulatory agencies, and close in the first half of 2013 with $1.7 billion in cash involved in the deal. Acme's stock price had dropped by 18 percent over the last several quarters as the continuing economic climate has forced tighter budgets and outright cancellation of projects. Oracle's offer presents a 22 percent premium to Acme Packet's stock price on Friday. Shares of Acme have jumped over 22 percent, and is currently trading at trading at $29.21, eclipsing the offer per-share for the deal by a few cents. Oracle's shares have fallen 2.69 percent, down nearly a dollar in today's trading.
( Last edited by NewsPoster; Feb 5, 2013 at 02:25 AM. )
     
   
Thread Tools
Forum Links
Forum Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Top
Privacy Policy
All times are GMT -4. The time now is 11:30 AM.
All contents of these forums © 1995-2014 MacNN. All rights reserved.
Branding + Design: www.gesamtbild.com
vBulletin v.3.8.8 © 2000-2014, Jelsoft Enterprises Ltd., Content Relevant URLs by vBSEO 3.3.2