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11 May 2005
Sun Microsystems has announced that it will acquire Tarantella, an enterprise remote access software developer, for an "aggregate" sum of $25m.
The Java giant said that it has reached a definitive agreement on a cash purchase price of $0.90 per share, or approximately $25m in the aggregate, and assumption of employee stock options.
The transaction is subject to customary closing conditions, including regulatory approvals and the approval of Tarantella shareholders. It is understood that Tarantella's board is backing the acquisition.
Completion of the deal is expected in the first quarter of Sun's fiscal 2006.
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