In a deal analysts say should make some stockholders happy, Sun Microsystems
announced today that it would buy StorageTek for US$37 a share, or $4.1 billion, in cash. Both boards of directors have approved the move. Sun also agreed to assume StorageTek employees’ stock options. Buying the data storage equipment maker gives Sun a wider range of data services. StorageTek, founded in 1969 and based in Louisville, Colorado, makes tape drives and network management and backup software.
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Sun To Buy StorageTek in $4.1 Billion Deal
Posted by: Susan B. Shor June 2, 2005 10:32 AMIn a deal analysts say should make some stockholders happy, Sun Microsystems
announced today that it would buy StorageTek for US$37 a share, or $4.1 billion, in cash. Both boards of directors have approved the move. Sun also agreed to assume StorageTek employees’ stock options. Buying the data storage equipment maker gives Sun a wider range of data services. StorageTek, founded in 1969 and based in Louisville, Colorado, makes tape drives and network management and backup software.