You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Oracle Corp. set to buy Acme Packet for $2.1b

Database giant Oracle Corp. said Monday that it will pay $2.1 billion to acquire Acme Packet Inc . of Bedford, which makes devices that connect Internet-based communication networks to one another and to traditional phone systems.

Oracle will pay $29.25 a share in cash, 22 percent higher than Acme Packet’s closing stock price on Friday. Taking Acme Packet’s cash holdings into account, Oracle will pay a net price of about $1.7 billion. It’s the biggest purchase of a Massachusetts technology company since May of 2011, when Applied Materials Inc., a California manufacturer of chipmaking gear, bought Varian Semiconductor Equipment Associates Inc. of Gloucester for $4.9 billion.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week