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Sun Buying StorageTek for $4.1B

Posted by Zonk on from the that's-a-lot-of-storage dept.

MarkEst1973 writes "Sun Microsystems Inc. is buying Storage Technology Corp. in a $4.1 billion cash deal, the companies announced Thursday. The acquisition answers lingering questions about what Sun would do with about $3.1 billion of balance sheet cash. StorageTek is a profitable company with $191 million in profit in '04 on $2.2bn in sales while Sun posted a loss last year (albeit a much smaller one than the year before)."

5 of 215 comments (clear)

  1. Oooh by c0ldfusi0n · · Score: 3, Funny

    So that's why the two StorageTek people in the room next to my office are soo happy.

    --
    A computer makes it possible to do, in half an hour, tasks which were completely unnecessary to do before.
  2. I bought a hard drive too, and for less than $4B by nokilli · · Score: 1, Funny

    You don't see anyone submitting stories about it.

  3. Here's a new one by jargoone · · Score: 2, Funny

    Sun posted a loss last year (albeit a much smaller one than the year before).

    I got it now:

    1) Lose money
    2) Lose less money next year
    3) Profit???

    Doesn't sound right...

  4. Re:Reverse acquisition? by Jack+Taylor · · Score: 2, Funny

    I could see Sun offering tightly bundled turnkey installations.

    The first time I read that as "tightly bundled turkey installations". Time to get some sleep...

    --
    One good turn - gets all the covers.
  5. Re:Reverse acquisition? by aclarke · · Score: 2, Funny
    ...management would literally almost brainwash you into thinking that Sun was the center of the universe...

    Well, Sun is at least the centre of the solar system...

    (I'm sorry. Really. I couldn't resist)

    --

    www.clarke.ca