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Technology / AI and automation

SUN MOVES OFFICIAL BASE TO DELAWARE, RAISES AUTHORISED SHARES TO 125m

Sun Microsystems Inc, Mountain View, California has been growing so fast that it has outgrown its articles of association. A special shareholders meeting has approved an increase in the authorised share capital to 125m from 75m – Sun has been highly acquisitive of late. The company is also following the general exodus out of California and re-registering under Delaware’s more friendly regulations. Scott McNealy, president and chief executive, also told the meeting that on May 29 Sun consummated its previously announced agreement to acquire Trancept Systems Inc for 117,647 shares of Sun stock and non-transferable warrants to for 14,671 Sun shares at $42.50 a throw. Trancept, a private company based in Raleigh, North Carolina, develops and sells application accelerators.

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CBR Staff Writer

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