Tuesday, April 01, 2008
Looks like that Parallels IPO won’t be happening after all. Sun Microsystems has today announced it has reached an agreement to acquire Parallels (formerly SWsoft) and all of its assets for a whopping $ 205 million. The major acquisition had been rumoured to be imminent throughout the course of 2007, but never actually went through, which led mosts analysts to believe the Herndon, VA-based company was heading towards an IPO following in VMware’s footsteps rather than being picked up by one of the big boys.
Needless to say, the acquisition is a pretty bold one, which is bound to serve as wake-up call for the entire virtualization industry. Both companies had been on a buying spree the past few months: Sun picked up innotek / VirtualBox, while Parallels recently acknowledged its January acquisition of ModernGigabyte. The acquisition is expected to be finalized by June, around the time Sun also plans to ship xVM Server.
See the rest at Virtualization.com