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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Tweaker who wrote (10288)	7/1/1998 4:51:00 PM
From: Bala Vasireddi	Read Replies (1) \| Respond to of 64865

Here is what I bet it is: news.com Sun nears NetDynamics buyout By Jeff Pelline Staff Writer, CNET NEWS.COM July 1, 1998, 11:45 a.m. PT update Sun Microsystems is close to a deal to buy application software maker NetDynamics, according to sources. The companies declined comment; however, an announcement is expected this afternoon, sources said. NationsBanc Montgomery Securities analyst Kurt King, who follows Sun, said he has no firsthand knowledge of the deal, but that it would make sense. The buyout would allow Sun to expand in the Java enterprise market. "It fits with the direction the company is going," he added. Privately held NetDynamics recently announced support for JavaSoft's enterprise JavaBeans. The company was founded in 1995 and is based in Menlo Park, California. Its cofounder and chief executive is Zach Rinat. NetDynamics has received three rounds of funding totaling $15.4 million. Investors include Hummer Winblad, U.S. Venture Partners, Intel, The Galleon Group, Attractor Investment Management, Van Wagoner Capital Management, and Integral Capital Partners. The company makes application server software and related tools. The software is used by developers to create a middle tier that links Web-based client systems to back end data sources and applications. The market for application software is booming, thanks in large part to the growth of e-commerce applications. International Data Corporation pegs the current application server market as a $400 million-per-year business. By 2001, total application server sales are expected to reach more than $1 billion. A host of companies are vying for business in the application server market, including Microsoft, Netscape Communications, IBM, Oracle, and Sybase, among others. Netscape purchased application server maker Kiva Software last November in a deal worth roughly $180 million. Related news stories Netscape buys server start-up November 24, 1997