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S&P: Sun Microsystems unchanged
Standard & Poor's said it does not expect Sun Microsystems Inc.'s (BB+/stable/A-3) recently announced agreement to acquire SeeBeyond Technology Corp. for $387 million in cash to affect its rating or outlook on Sun.
The transaction is expected to strengthen Sun's position in the growing market for enterprise business integration software, S&P noted.
Although the acquisition is in addition to the company's June 2 announcement that it will acquire Storage Technology Corp. for $4.1 billion, Sun is expected to preserve its strong financial profile, the agency said.
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