Sun Microsystems Inc. said on Thursday it agreed to buy Storage Technology Corp. for $4.1 billion in cash, bolstering its presence in the fast-growing market for data storage.
Santa Clara-based Sun will pay $37 per share for Louisville, Colo.-based Storage Technology, also known as StorageTek. The price, an 18.5 percent premium to StorageTek’s closing price on Wednesday, includes the assumption of StorageTek employee stock options.
