7/24/2002 - Sun Microsystems, Inc. (NASDAQ: SUNW) today announced that it has acquired Afara Websystems, Inc., a company that develops next-generation, SPARC®-based microprocessor technology focused on delivering breakthrough levels of processor performance.
Under the terms of the agreement, Sun acquired all of the outstanding stock and assumed the outstanding options of Afara Websystems. Also as part of the agreement, Sun hired nearly all of Afara Websystems' employees. The financial impact of this transaction on Sun's earnings is expected to be immaterial.
"Sun's acquisition of Afara Websystems is yet another example of the company's ongoing commitment to the UltraSPARC® development," said David Yen, executive vice president of Sun's Processor and Network Products group. "Afara brings to Sun a seasoned and talented team of SPARC chip designers, whose advancements in SPARC design will help accelerate Sun's development of future generations of UltraSPARC chips."
For more information, visit http://www.sun.com/processors
This press release contains forward looking statements regarding future results and performance of Sun Microsystems, Inc., including statements relating to the expected financial impact of the Afara acquisition on Sun's earnings, Sun's ongoing commitment to UltraSPARC development and the effectiveness of Afara's employees in accelerating development of future generations of UltraSPARC chips. Such statements are just predictions and involve risks and uncertainties such that actual results and performance may differ materially. Factors that might cause such a difference include risks associated with integrating an acquired company into Sun, lack of success in the timely development, production and acceptance of new products and services and in technical advancements, Sun's lack of ability to compete successfully in the highly competitive and rapidly changing marketplace and continued adverse general economic conditions. These and other risks are detailed from time to time in Sun's periodic reports that are filed with the Securities and Exchange Commission, including Sun's annual report on Form 10-K for the fiscal year ended June 30, 2001 and Sun's quarterly reports on Form 10-Q for the fiscal quarters ended September 30, 2001, December 30, 2001 and March 31, 2002.
About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision -- "The Network Is The Computer[tm]" -- has propelled Sun Microsystems, Inc. (Nasdaq: SUNW) to its position as a leading provider of industrial-strength hardware, software and services that make the Net work. Sun can be found in more than 170 countries and on the World Wide Web at http://sun.com
Sun, Sun Microsystems, the Sun logo, and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. All SPARC trademarks are used under license and are trademarks or registered trademarks of SPARC International, Inc. in the US and other countries. Products bearing SPARC trademarks are based upon an architecture developed by Sun Microsystems, Inc.
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