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Los Angelas, CA -- (SBWIRE) -- 02/04/2013 -- Acme Packet, Inc. (NASDAQ:APKT) provides session delivery network solutions, which enable the delivery of voice, video, data and unified communications services and applications across Internet Protocol (IP), networks. The Company’s session delivery network solutions are used by over 1,600 Acme Packet customers in 107 countries
Oracle will Acme Packet Inc., which makes equipment for telecommunications companies, for about $2.1 billion.
Acme's gear is used by more than 1,900 service providers and enterprises around the world. Its technology will complement Oracle's offerings for telecoms providers, said Citigroup analyst Walter Pritchard.
Oracle, a database software maker 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 soared 22 percent, or $5.35, to $29.28 in morning trading. Shares of Oracle Corp. lost 62 cents, or 1.7 percent to $35.58.
Acme Packet, Inc. (NASDAQ:APKT)'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.
Where Is Acme Packet Headed Exactly After Achieving This Milestone? Find Out Here
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