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News > Deals
Digital Island leaps on deal
December 8, 1999: 9:10 a.m. ET

Sun Micro takes minority stake, Inktomi adds to e-commerce company holding
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NEW YORK (CNNfn) - Shares in Digital Island Inc., a provider of e-commerce services to businesses, skyrocketed Wednesday after the company announced the taking of a minority stake by Sun Microsystems and the increase in Inktomi’s investment in the company through an pending merger partner.
    Financial terms of the investments weren’t disclosed.
    Shares in Digital Jam rose 45-5/16 to 114 15/16 in regular trading Wednesday - a climb of 65 percent.
    Digital Island  (ISLD) also announced it will purchase $150 million of Sun Microsystems Web servers equipped with Inktomi’s Internet infrastructure software.
    Sun Microsystems  (SUNW) will take a minority stake in Digital Island through its investment portfolio. Inktomi (INKT) is adding to the stake it holds in Sandpiper Networks, which agreed to merge with Digital Island in October.
    By incorporating Sun and Inktomi’s technology, Digital Island said bottlenecks in the network backbone will be reduced and keep costs down. The company also expects to attract and retain new subscribers by speeding up its service.
    "The innovative network services that our alliance brings to the Internet allows corporations to rapidly deliver content and conduct secure transactions in order to excel at all facets of e-business," said Ruann F. Ernst, president and CEO of Digital Island.
    Sun rose 9 percent to 78 7/16 Wednesday. Shares of Inktomi climbed 3 percent to 168. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.