Shares of networking equipment vendor Acme Packet (APKT) were halted just before Oracle (ORCL) announced a short while ago that it will purchase the company for $29.25 per share, 22% above the $23.93 at which it last traded, for $2.1 billion, or $1.7 billion net of cash acquired.
Oracle co-president Mark Hurd�remarked that Acme will be, “The combination of Oracle and Acme Packet is expected to accelerate the migration to all-IP networks by enabling secure and reliable communications from any device, across any network.”
“Users are increasingly connected and expect to communicate anytime and anywhere using their application, device, and network of choice. Oracle Communications along with Acme Packet can help service providers and enterprises meet these demanding requirements by delivering an end-to-end portfolio of technologies that will support the deployment, innovation and monetization of all-IP networks.”
Acme competes with Cisco Systems (CSCO), Juniper Networks (JNPR), and other traditional networking equipment vendors providing IP network protocol management systems for telecommunications networks.�
Oracle shares are trading lower by 80 cents, or 2%, at $35.40.
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