REDMOND, Wash.-Apex Inc., a server console management and switching technology provider, and Cybex Computer Products Corp., a provider of network hardware used to manage servers and data centers, have signed a definitive agreement to combine in a merger valued at $2 billion.
According to the companies, the new organization will be well positioned to speed the development of advanced solutions for efficiently managing large data centers and will design, manufacturer and market progressive solutions for network management.
The transaction, unanimously approved by the boards of directors of both companies, will be accounted for as a purchase and is expected to be tax free to the companies’ shareholders.
“The merger comes at the right time for both of our companies,” noted Kevin Hafer, president and chief executive officer of Apex. “It brings together two strong and successful companies with complementary technologies, outstanding products and people, global and world-class sales and support organizations, and a shared commitment to excellent customer service.”
