Oracle Buys Acme Packet For $2.1 Billion
Oracle Corporation is acquiring enterprise software company Acme Packet for $2.1 billion. Oracle is paying $29.25 per share, which is a 22% premium from Acme’s closing stock price on Friday. When excluding cash, Acme is valued at around $1.7 billion. This is Oracle’s first deal of the year and it is their biggest since they acquired Taleo Corporation last February for $1.9 billion.
Based in Bedford, Massachusetts, Acme will enable Oracle to build tools that allow companies to send data securely through the Internet. Acme’s Net-Net products let customers use data, voice, and video across several types of connections.
“The addition of Acme Packet to Oracle’s leading communications portfolio will enable service providers and enterprises to deliver innovative solutions that will change the way we interact, conduct commerce, deliver health care, secure our homes and much more,” stated Oracle president Mark Hurd.
Today Acme also announced that they hit a $6.5 million loss for Q4. Revenue has fallen in the previous quarter and the same period one year earlier. The acquisition is expected to close on June 30th.