Sun Microsystems announced today that it plans to acquire HighGround Systems in a stock-for-stock transaction worth approximately $400 million.
HighGround Systems, a privately held, 170-person company based in Marlborough, MA is a developer of storage resource management software for open systems. The company’s products help customers understand and control their storage resources.
The acquisition of HighGround will enable Sun to gain a foothold in the worldwide storage resource management market, which the Gartner Group’s Dataquest Research Division estimates will reach $1.7 billion by 2003.
The acquisition is expected to close in the third quarter of Sun’s fiscal year 2001, which ends March 30, and is subject to government review, HighGround stockholder approval and customary closing conditions. All HighGround employees and products will become a part of Sun.