CITEC's partners, Sun Microsystems and StorageTek, announce merger
02 June 2005
Two of CITEC's strategic partners - Sun Microsystems and StorageTek - have announced that they have entered into a definitive agreement under which Sun will acquire StorageTek.
According to Sun and StorageTek, the combination will create a new global leader in comprehensive network computing and data management which collectively had total annual revenues of more than $13 billion in the past four quarters.
Together, Sun and StorageTek can offer customers the most complete range of products, services and solutions available for securely managing mission-critical data assets.
By bringing a systems approach to Information Lifecycle Management (ILM), Sun will be well-positioned to help customers better manage their growing privacy, security, compliance and policy requirements.
Announcing the merger, Sun said the acquisition was part of an ongoing strategy to respond to customers seeking to rationalise their data centre purchases - to free up time and dollars to focus on compliance, architectural integration, security and the bottom line.
Sun said the merger would solidify its leadership position, with the highest volume computing platforms, the most comprehensive data and identity management solutions, and when combined with StorageTek, an unmatched ability to earn the confidence of customers as they develop, deploy and manage information assets throughout their entire lifecycle.
Sun and StorageTek
About StorageTek
StorageTek is a $2.2 billion global company that enables businesses, through its information lifecycle management strategy, to align the cost of storage with the value of information. The company's innovative storage solutions manage the complexity and growth of information, lower costs, improve efficiency and protect investments. For more information, see www.storagetek.com.
About Sun Microsystems, Inc.
A singular vision -- "The Network Is The Computer"™ -- guides Sun in the development of technologies that power the world's most important markets. Sun's philosophy of sharing innovation and building communities is at the forefront of the next wave of computing: the Participation Age. Sun can be found in more than 100 countries and on the Web at sun.com.
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