As expected, Sun Microsystems has completed its $US4.1 billion purchase of Storage Technology. The deal was first announced June 2.
Sun's largest-ever cash acquisition, the deal is an effort to beef up its storage and data-management portfolio. StorageTek's main business has been in tape-automation and backup appliances, but the company has expanded its product line in the past year to offer disk-based backup and information lifecycle management (ILM) software.
According to Sun, the revenue of both companies combined for the past 12 months was $US13.3 billion, and 36 per cent of the world's total archived data is stored on products from the two companies.
StorageTek now becomes part of Sun's Data Management Group, formerly called the Network Storage Group. The organisation is led by Mark Canepa, a Sun executive vice-president. The group consists of three business units, one each for disk, tape and ILM products, according to Sun.