Oracle Corp to buy network gear maker Acme Packet for $2.1 bn
Reuters: Feb 04 2013, 21:42 IST
about $1.7 billion, net of cash.
Oracle shares were down 1 percent at $35.88 in early trading on the Nasdaq.
Shares of Acme rival Sonus Networks Inc also rose 14 percent on the news, while those of Juniper Networks Inc were up 2 percent.
Acme has been hit by weak telecom spending in the last few quarters as carriers spend less on new projects and delay existing ones. Its shares had fallen 18 percent in the last year as of Friday.
Acme also reported fourth-quarter earnings of 9 cents per share, excluding items, on revenue of $70.7 million.
Analysts expected an adjusted profit of 8 cents per share and revenue of $68.9 million.
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