The acquisition would augment Sun's product line in the profitable data-storage market. The deal is expected to close in the third quarter of Sun's 2001 fiscal year, which ends March 30, and is subject to HighGround stockholder and governmental approvals. Upon completion of the acquisition, HighGround will become a part of Sun's network storage division.
Analysts are bullish about the deal.
Sun's storage strategy is still evolving, and in order for it to be successful, there have to be acquisitions, Shope says. It's a step in the right direction. InformationWeek Daily Get IT news, stock reports and calendar info delivered by E-mail every morning.