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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)."

1 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.