eWeek: Sun snaps up Cobalt Networks for $2B | Linux Today

eWeek: Sun snaps up Cobalt Networks for $2B

Written By
Web Webster
Web Webster
Sep 19, 2000

[ Thanks to masterfres for this link.
]

“The all-stock deal calls for each share of Cobalt to be
exchanged for 0.5 shares of Sun stock. … That’s a decent premium
for Cobalt, which closed at 41.13 Monday. Based on Sun’s Monday
closing price of 115.25, the deal gives investors a 40 percent
bump.”

“After the merger, Cobalt, whose server appliances run
on Linux, will become the server appliance business unit of
Sun’s Network Service Provider organization
, reporting to
Executive Vice President John McFarlane.”

“The acquisition will “establish [Sun] in the low-end server
appliances” market
, CEO Ed Zander said in a press
release.”


Complete Story

Web Webster

Web Webster

Web Webster has more than 20 years of writing and editorial experience in the tech sector. He’s written and edited news, demand generation, user-focused, and thought leadership content for business software solutions, consumer tech, and Linux Today, he edits and writes for a portfolio of tech industry news and analysis websites including webopedia.com, and DatabaseJournal.com.

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