Sun moves to buy StorageTek for $4.1 billion
Sun Microsystems is in the process of acquiring Storage Technology Corp., a vendor of data storage systems, in a deal valued at $4.1 billion, the two companies said Thursday (June 2).
Sun says the acquisition of StorageTek, as the company is widely known, will strengthen its position in the market for information life-cycle-management technology. The deal will create a company that recorded more than $13 billion in sales of network computing and data-management products in the past four quarters, according to Sun.
Sun says the two companies’ products are complementary. Sun, for example, says it can couple its Sun StorEdge 6920 data-storage system with StorageTek’s new line of data protection and intelligent data archiving products, such as its Storage Resource Management software and virtual tape systems.
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