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IBM to acquire Sequent for $810M

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New York--IBM Corp., Armonk, N.Y., will acquire Sequent Computer Systems, a Beaverton, Ore.-based computer server company, for $810 million, IBM announced Monday. According to the CNN Financial Network, Big Blue will pay $18 a share in cash for Sequent, only a 75-cent premium from Friday's closing price of $17.25. After the deal is completed, IBM plans to begin selling Sequent's technology, which allows servers using either Unix of Windows NT operating systems to work together. It also will use the technology within its own server products. Sequent has more than 2,500 employees and has 56 sales offices worldwide. The acquisition requires shareholder and regulatory approval. In Friday trading, IBM rose $3.37 to $137.37.
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