I guess here's a good final post for this thread, and an explanation of why COBT stock isn't trading any more.
Ouch, SUNW shares are currently around $30, from $40 earlier this month (COBT's 52-wk low was $25). Even the Big Techs have been hit hard lately.
Sun completes acquisition of Cobalt Networks
upside.com
December 07, 2000 10:11 AM PT
by Michelle Rushlo
Server maker Sun Microsystems (SUNW) completed its acquisition of Cobalt Networks (COBT), a company that makes specialized server appliances, the company announced today.
Cobalt stock holders got one Sun share for every share of Cobalt after adjusting for the 2-for-1 stock split Sun made Wednesday.
At the time of the acquistion announcement, made in September, Sun officials said they were buying the Mountain View, Calif.-based company to establish Sun in the low-end server appliance market.
Sun, which is a leader in the Unix server market, sells primarily general purpose servers, but its purchase of Cobalt marks a move into specialized less-expensive server appliances, which many of Sun's competitors have already embraced. |
