Move Underscores Sun's Storage Virtualization Direction for N1
SAN FRANCISCO -- SunNetwork(SM) 2002 Conference and Pavilion, Sept. 19
/PRNewswire-FirstCall/ -- Sun Microsystems, Inc. (Nasdaq: SUNW), today
announced that Sun has entered into a definitive agreement to acquire Pirus
Networks, Inc. Pirus Networks, a privately held company based in Acton,
Mass., is a recognized leader in multi-protocol, multi-vendor intelligent
storage networking for distributed open systems environments. This
acquisition will enable Sun to deliver one of the critical data services
components of the N1 architecture and strategy, which is being outlined at the
SunNetwork Conference in San Francisco this week.
Pursuant to the terms of the agreement, Sun will acquire Pirus Networks in
a stock-for-stock transaction. The acquisition is expected to close in the
second quarter of Sun's 2003 fiscal year, which ends December 29, 2002. This
acquisition is subject to customary closing conditions, including approval by
Pirus Networks' shareholders. Following completion of the acquisition Pirus
Networks will become a part of Sun's Network Storage organization, which
reports to Mark Canepa, Executive Vice President.
"By integrating Pirus Networks's technology into our existing end-to-end
architecture, we are gaining the ability to create a unified storage network,
regardless of vendor. This is a key competitive advantage and major step in
delivering on our N1 strategy," said Mark Canepa. "Pirus Networks brings to
our team a wealth of experience and knowledge that will be instrumental in
helping to build on our N1 strategy of delivering easy-to-manage next-
generation networks."
Sun is a major force in the multi-billion dollar storage market and a
leader in the movement toward implementing open standards in storage systems.
Drawing on its expertise with complex networked systems, Sun is committed to
delivering and supporting complete storage solutions resulting in open,
scalable and manageable storage networks.
The acquisition of Pirus Networks will allow Sun to leverage critical
technologies and expertise to converge advanced data services in a scalable,
redundant, highly available storage platform. Pirus Networks' technologies
help customers vastly reduce the complexity of their storage networks, boost
operational efficiency, and significantly lower the overall cost of storage
ownership.
"For over two decades, Sun has been the leader in networked computing and
with the N1 strategy, Sun is well positioned to continue to lead the
industry," said Rich Napolitano, president and CEO of Pirus Networks. "Pirus
Networks has been successful in developing a set of intelligent storage
networking technologies that are a perfect complement to Sun's N1 strategy."
This press release contains forward looking statements that involve risks
and uncertainties. These forward looking statements include statements
regarding Sun's ability to deliver one of the critical data services
components of the N1 architecture and strategy, Sun's acquisition of Pirus
Networks in a stock-for-stock transaction, the expected close of the
acquisition in the second quarter of Sun's 2003 fiscal year, Pirus Networks
becoming part of Sun's Network Storage organization following completion of
the acquisition, Sun's ability to create a unified storage network, regardless
of vendor, Pirus Networks' wealth of experience and knowledge being
instrumental in helping to build on Sun's N1 strategy of delivering easy-to-
manage next-generation networks, Sun's commitment to delivering and supporting
complete storage solutions resulting in open, scalable and manageable storage
networks, the acquisition of Pirus Networks allowing Sun to leverage critical
technologies and expertise to converge advanced data services in a scalable,
redundant, highly available storage platform, and Sun's positioning to
continue to lead the networked computing industry. Actual results and
performance may differ materially from the results and performance discussed
in the forward looking statements. Factors that might cause such a difference
include risks surrounding the closing of the acquisition of Pirus Networks,
successful integration of Pirus Networks into Sun following the closing of the
acquisition, timely development, production and acceptance of the products,
services and technologies contemplated by the proposed acquisition, Sun's lack
of ability to compete successfully in the highly competitive and rapidly
changing marketplace and continued adverse general economic conditions. 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, 2001 and Sun's
quarterly reports on Form 10-Q for the fiscal quarters ended September 30,
2001, December 30, 2001 and March 31, 2002.
About SunNetwork 2002
The SunNetwork 2002 Conference and Pavilion is the only conference
dedicated to showcasing end-to-end solutions from Sun and its partners that
have revolutionized the Internet, networking and computing industries.
SunNetwork 2002 has over 7,000 attendees at its inaugural event this week
participating in over 175 technical sessions and bird of a feather sessions
addressing Sun system architecture, network and computing management, services
development tools and techniques. SunNetwork 2002 has been co-sponsored by
SAP, Sybase, MatrixONE, PTC, Vignette and JNI Corporation and has over 200
technology exhibits demonstrating how Sun's technology is solving real-world
technology and network challenges. For more information on all related
announcements, please visit the SunNetwork 2002 website at
http://sunnetwork.sun.com.
About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision -- "The Network Is The
Computer(TM)" -- has propelled Sun Microsystems, Inc. to its position as a
leading provider of industrial-strength hardware, software and services that
make the Net work. Sun can be found in more than 170 countries and on the
World Wide Web at http://sun.com
About Pirus Networks
Pirus Networks, a leader in intelligent storage networking, was founded in
December 1999. Pirus Networks is active in industry standard organizations,
including membership in the Storage Networking Industry Association (SNIA),
Internet Engineering Task Force (IETF) IP Storage Working Groups and the Fibre
Channel Industry Association (FCIA). Pirus Networks is creating a new
category of intelligent storage networking systems that are designed to reduce
storage ownership costs and streamline data management.
Sun, Sun Microsystems, Inc., the Sun Logo, and The Network Is The Computer
are trademarks or registered trademarks of Sun Microsystems, Inc. in the
United States and other countries.
FOR MORE INFORMATION:
Prentiss Donohue
Sun Microsystems, Inc.
(303) 272 8065
prentiss.donohue@sun.com
Angie Devlin
Sun Microsystems, Inc.
(303) 272 9505
angie.devlin@sun.com
For Industry Analysts:
Karen Zamel
Sun Microsystems, Inc.
(510) 936 2388
karen.zamel@sun.com
SOURCE Sun Microsystems, Inc.
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Related links:
http://sun.com
CONTACT:
Prentiss Donohue, +1-303-272-8065 or
prentiss.donohue@sun.com, Angie Devlin, +1-303-272-9505 or
angie.devlin@sun.com, or, Industry Analysts, Karen Zamel,
+1-510-936 2388 or karen.zamel@sun.com, all of Sun Microsystems,
Inc.
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