Sunday July 27, 2014

subscription options


Print Edition»

  • Includes free
    digital edition
  • Digital Edition»

  • Print format with
    enhanced features!
  • QUESTION OF THE WEEK

    • What do you consider to be the 2013 Story of the Year?
    • B.C. election
    • 36%
    • TRU law school
    • 4%
    • Proposed Ajax mine
    • 43%
    • Jack Shippobotham death
    • 3%
    • Starving horses seized
    • 11%
    • Red Lake cold case
    • 3%
    • Total Votes: 1070





    Home »  News »  Business

    Oracle to buy telecoms gear maker Acme Packet for about $2.1B, deepening appeal to telcos

    REDWOOD SHORES, Calif. - Oracle will buy Acme Packet Inc., which makes equipment for telecommunications companies, for about $2.1 billion.

    Acme's gear is used by more than 1,900 service providers and enterprises around the world. Its technology will complement Oracle's offerings for telecoms providers, said Citigroup analyst Walter Pritchard.

    Oracle, a database software maker based in Redwood City, California, will pay $29.25 per share for Acme. That represents a 22 per cent premium over the Bedford, Massachusetts, company's Friday closing stock price. The companies valued the deal at $1.7 billion, net of Acme's cash.

    Shares of Acme soared 24 per cent, or $5.66, to close at $29.59 Monday. Shares of Oracle Corp. lost $1.08, or 3 per cent, to close at $35.13.

    Acme's board unanimously approved the acquisition, which is expected to close in the first half of 2013. The deal remains subject to Acme shareholder and regulatory approval.

    Brian White at Topeka Capital Markets said that the deal might herald more acquisitions of communications gear makers by companies like IBM Corp., Hewlett-Packard Co. and Dell Inc. Targets could include Juniper Networks Inc. and F5 Networks Inc., he said.


    Comments


    NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

    The Kamloops Daily News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

    blog comments powered by Disqus



    Sitemap / RSS   Glacier Community Media: www.glaciermedia.ca    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy

    LOG IN



    Lost your password?