Oracle acquiring Acme Packet for about $2.1 bnFebruary 4, 2013 - 18:46 AMT PanARMENIAN.Net - Oracle is acquiring the network gear company Acme Packet for about $2.1 billion, AP reported. The software giant will be able to bolster the communications package it offers to customers with the acquisition, it said Monday, February 7. Acme makes phone and data network equipment that's used by more than 1,900 service providers and enterprises around the world. Oracle, based in Redwood City, Calif., will pay $29.25 per share for Acme. That represents a 22 percent premium over the Bedford, Mass., company's Friday closing stock price. The companies valued the deal at $1.7 billion, net of Acme's cash. Shares of Acme Packet Inc. soared 23 percent, or $5.57, to $29.50 in premarket trading. Oracle Corp. shares lost 44 cents to $35.77. Acme's board unanimously approved the acquisition, which is expected to close in the first half of 2013. The deal remains subject to Acme shareholder and regulatory approval. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. |