Sun Microsystems Inc. this week announced it has completed its acquisition of StorageTek. The acquisition is valued at approximately $4.1 billion.
StorageTek will now become a part of Sun's Data Management Group (DMG), formerly named Sun's Network Storage Group (NWS). This new arm will be under the leadership of Mark Canepa, executive vice president, Data Management Group.
The DMG consists of three distinct business units - Disk, Tape, and ILMS (Information Lifecycle Management Solutions). StorageTek's former CEO, Pat Martin, isn't joining the combined company.
Highlights of the acquisition include:
- The creation of a global presence in network computing and data management with combined revenues of $13.3 billion for the last 12 months, and whose products hold 36 percent of the world's total archived data;
- Instantly expands Sun's addressable customer base, providing significant new channels for each company's products and services around the globe;
- Provides customers with flexibility and choice in storage and data management offerings for heterogeneous environments, coupled with identity management and security systems;
- Delivers shareholder value through access to significant growth opportunities in the storage market and an expanded sales force with a broader product and services portfolio.