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News Summary: Oracle to buy Acme Packet for $2.1B

The Associated Press

THE DEAL: Oracle is buying network gear company Acme Packet for about $2.1 billion.

THE DETAILS: Under the terms of the agreement, Oracle will pay $29.25 per share for Acme. That represents a 22 percent premium over the Bedford, Mass., company's Friday closing stock price.

THE REASON: The software giant said it will be able to bolster the communications package it offers to customers with the acquisition. Acme makes phone and data network equipment that's used by more than 1,900 service providers and enterprises around the world.