|By Maureen O'Gara||
|February 5, 2013 07:00 AM EST||
Oracle is going to buy Acme Packet, a Massachusetts networking gear player that sells secure IP video conferencing, data and voice calling to SPs and the enterprise.
Acme is a company, described as a "one of Boston's recent success stories," as well as a rival of Cisco and Juniper, more likely to be acquired by Cisco than Oracle, that Oracle is picking up for $2.1 billion in cash or $29.25 a share, a 22% premium over Acme's Friday close.
Oracle will wind paying $1.7 billion, net of Acme's roughly $363.4 million in the bank.
Acme reportedly has 1,900 service provider and enterprises customers worldwide including 89 of the world's top 100 communications companies.
The deal is expected to close this half.
Oracle's SVP of communications, said, "The communications industry is undergoing a dramatic shift as users become more connected and dependent on mobile applications and devices. Service providers and enterprises need a comprehensive communications solution that will enable them to more effectively engage with their customers."
Oracle expects the deal to accelerate its deployment of all-IP networks "by enabling secure and reliable communications from any device, across any network."
"The proposed acquisition of Acme Packet is another important piece in Oracle's overall strategy to deliver integrated best-in-class products that address critical customer requirements in key industries," said Oracle co-president Mark Hurd. "The addition of Acme Packet to Oracle's leading communications portfolio will enable service providers and enterprises to deliver innovative solutions that will change the way we interact, conduct commerce, deliver healthcare, secure our homes and much more."
On Monday, Acme swung to a Q4 loss of $6.5 million as revenue dropped 15% to $70.7 million on weak spending, though adjusted earnings and revenue topped consensus estimates.
"Acme Packet brings deep domain expertise and proven mission-critical solutions to enable all-IP networks," Acme CEO Andy Ory said in a statement. "Together with Oracle, we expect to provide customers with purpose-built, innovative solutions to accelerate the deployment of all-IP networks and help deliver a superior experience across services, devices and networks."
Oracle's shares dropped a bit on the news.
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