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Sun to acquire Storagetek
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Sun to acquire Storagetek
To Customers and Friends of Sun Microsystems:
I couldn't be more thrilled to announce that on June 2, 2005, Sun Microsystems and StorageTechnology Corp. (StorageTek) signed a definitive agreement under which Sun will acquire StorageTek, a worldwide technology company that delivers a broad range of storage management offerings. This acquisition strengthens Sun's mission to solve complex network computing problems for governments, enterprises, and our service providers. When we first discussed the possibility of acquiring StorageTek, it was apparent to me that we share similar vision for helping our customers take cost and complexity out of their IT infrastructure. There have been and continue to be huge issues relating to security of data assets that are paramount in customers' minds. With the combination of Sun and StorageTek we can address these problems like no other. You may already know that Sun and StorageTek have a ten-year history of working together - with StorageTek products used by many of our customers. This announcement takes that relationship a step further. With this transaction, Sun emerges as the leader in secure Information Lifecycle Management (ILM), significantly expanding the value we offer to our customers. Some highlights: * Together, we bring 60 years of shared experience in providing innovative solutions to Compute, Data, Management, Software and Services challenges. * Combined annual revenue of more than $13 billion, placing Sun as the fourth largest storage company worldwide, and the undisputed leader in ILM. * The addition of experienced and respected sales, service and support professionals who possess deep expertise and share Sun's commitment to innovation and customer value. * A full suite of identity management offerings to enable compliance and auditability of information assets. StorageTek's products and services will be integrated into Sun's product line once this agreement is formally closed, and customers of StorageTek will continue to be serviced under the terms of their existing agreements. An integration team has been established to oversee a smooth integration of operations, including management, engineering, sales and service personnel. As the agreement is subject to regulatory and shareholder approval, until it closes Sun and StorageTek will continue to operate separately from each other. We anticipate closing this arrangement during either the first or second quarter of Sun's 2006 fiscal year. You can learn more about today's announcement by visiting http://www.sun.com/smi/Press/sunflas...0050602.1.html. Or better yet, contact your local sales representative for more details. If you have any questions or feedback, please send a message to ecampaignteam@sun.com. Sincerely, Scott McNealy CEO and President Sun Microsystems, Inc. |
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