Sun Strengthens Position in High-Growth Storage Market with Intellectual Property Purchase
Sun Microsystems, Inc. (NASDAQ: SUNW) today announced it has completed the acquisition of all intellectual property rights of Procom Technology, Inc. relating to its Network Attached Storage (NAS) offerings. In addition, the company has welcomed the majority of Procom’s employees related to NAS into the Sun organization.
“The Procom transaction, combined with our recent announcement that we’ve signed a definitive agreement to acquire StorageTek, signifies the strategic importance of data management to Sun and underscores our commitment to a total systems approach,” said Jonathan Schwartz, president and chief operating officer, Sun Microsystems. “We will now be positioned to have the broadest storage product line in the industry, supported by what we believe to be the ultimate data management operating system, Solaris 10.”
Through a previous software licensing agreement with Sun, Procom’s technology is already embedded and currently shipping within the Sun StorEdge 5000 family of NAS Appliances. With the close of this acquisition, Sun now owns the intellectual property rights relating to Procom’s NAS product offerings and therefore gains additional engineering expertise, enabling it to build future NAS and next-generation file-based storage systems much faster and more cost-effectively.
About Sun Microsystems, Inc.
A singular vision — “The Network Is The Computer” — guides Sun in the development of technologies that power the world’s most important markets. Sun’s philosophy of sharing innovation and building communities is at the forefront of the next wave of computing: the Participation Age. Sun can be found in more than 100 countries and on the Web at http://sun.com
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This Press Releases contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding future results or financial performance of Sun Microsystems, Inc., including statements relating to the acquisition of certain assets of Procom, strengthening Sun’s position in the high-growth storage market, positioning Sun to have the broadest storage product in the industry and the ultimate data management operating system, and enabling Sun to build future NAS and next-generation file-based storage systems much faster and more cost-effectively. Such statements are just predictions and involve risks and uncertainties such that actual results and performance may differ materially. Factors that might cause such a difference include the successful integration of Procom’s technology assets and employees into Sun, building future NAS and next-generation file-based storage systems, Sun’s inability to compete successfully in the highly competitive and rapidly changing marketplace, failure to retain key employees, cancellation or delay of projects, increased competition and continued adverse general economic conditions in the U.S. and internationally. These and other risks are detailed from time to time in Sun’s periodic reports that are filed with the Securities and Exchange Commission, including Sun’s annual report on Form 10-K for the fiscal year ended June 30, 2004 and our quarterly reports on Form 10-Q for the fiscal quarters ended September 26, 2004, December 26, 2004 and March 27, 2005.