Sun Microsystems Purchases StorageTek For $4.1 Billion

Sun Microsystems agreed to acquire Storage Technology for 4.1 billion dollars. While Sun has been reselling StorageTek products for some time, the acquisition of the company will solidify Sun’s ILM (information lifecyle management) position. ILM systems manage information and data starting from their creation until it is no longer needed and deleted. StorageTek complements Sun’s large storage systems with various tape libraries, tape drives, disk drives, and resource management software. The market for storage systems is expected to grow as companies invest more in disaster recovery projects and backup systems needed to meet government compliance requirements. The deal is expected to close in summer or fall this year. Read more…