Oracle Corp. (Nasdaq: ORCL) is buying technology company Acme Packet (Nasdaq: APKT) for about $1.7 billion.

The purchase price works out to $29.95 per share.

Acme, headquartered in Bedford, Mass., develops technology, such as Net-Net, which allows customers to use data, voice and other applications through multiple connections. 

Oracle, headquartered in Redwood Shores, Calif., engineers hardware and software. The deal should expand Oracle’s Internet protocol network, allowing users to communicate securely from any device.

The deal requires regulatory approval.

In July, Oracle agreed to buy Xsigo Systems Inc. to grow its virtualization services and quicken access to servers for large customers. 

Technology