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Sun to Buy SeeBeyond

The acquisition is valued at about $387 million.
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Sun Microsystems

(SUNW) - Get Sunworks, Inc. Report

reached an agreement to acquire

SeeBeyond

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(SBYN)

for $4.25 a share, valuing the deal at about $387 million including the assumption of employee stock options.

SeeBeyond, a provider of business integration software based in Monrovia, Calif., had revenue of about $167 million during the last 12 months and has 2,000 customers worldwide.

In premarket trading, shares of SeeBeyond were gaining 85 cents, or 26%, to $4.13. The stock's 52-week high is $4.20. Sun was adding 2 cents to $3.71.

Sun said the products and services offered by the companies are complementary with little overlap. The company expects to complete the purchase this fall.