Sun Microsystems, Inc. announced that Sun has entered into a definitive agreement to acquire Pixo Inc., a privately held company based in San Jose, California. Pixo provides network operators with Java technology-based server software to manage the secure distribution and monetization of digital content for end- users' mobile devices. This acquisition will solidify Sun's leadership in mobile data services and create a presence for Sun in the arena of digital rights and access management for content distribution.
Pursuant to the terms of the agreement, Sun will acquire Pixo in an all cash transaction. The acquisition is expected to close in the first quarter of Sun's 2004 fiscal year, which begins July 1, 2003. This acquisition is subject to customary closing conditions. Following completion of the acquisition, Pixo will become an integral part of Sun's Software organization under the leadership of Jonathan Schwartz, executive vice president, Software.
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