Oracle to Buy Acme Packet for $1.7 Billion

Oracle (NYSE: ORCL  ) has agreed to buy Acme Packet (UNKNOWN: APKT.DL  ) in a $1.7 billion deal, net of Acme's $363 million in debt-free cash. The offer is $29.25 per Acme Packet share.

The purchase will give Oracle access to proven solutions for transporting multimedia information across standard IP-based networks. Oracle President Mark Hurd explained in a press release that Acme will help his company "deliver innovative solutions that will change the way we interact, conduct commerce, deliver health care, secure our homes, and much more."

Acme's board of directors has approved the buyout, which is expected to close in the first half of 2013. Shareholders still have to approve the bid, alongside the customary assortment of regulatory reviews.

Acme Packet's shares opened at $29.36 following this announcement -- slightly above Oracle's $29.25 offer price and 23% above Friday's closing price.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2233911, ~/Articles/ArticleHandler.aspx, 10/2/2014 8:47:36 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement