This article is more than 10 years old.
Oracle this morning announced a deal to acquire Pillar Data Systems, a San Jose-based storage systems company that is controlled by Oracle CEO Larry Ellison. Specific terms were not disclosed, although the company said there will be no upfront payment, with all compensation structured as an earn-out agreement. Oracle said the deal is not expected to be material to the company's results or financial position.
Pillar has nearly 600 customers.
Oracle noted that the transaction was handled by an independent board committee. The deal is expected to close in July 2011.
ORCL this morning is up 9 cents to $32.43.
