Oracle Corporation (NASDAQ:ORCL) has agreed to acquire Acme Packet, Inc. (NASDAQ:APKT), provider of session bordercontrol technology, for $29.95 a share, or $2.1 million in cash, or $1.7 billion net of Acme’s balance sheet cash, according to Reuters.

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The $29.25 per share offer enfolds a 22 percent premium to Acme Packet’s Friday close on the Nasdaq.

Subject to the approval of Acme stockholders and closing conditions, this deal “is expected to accelerate the migration to all-IP networks by enabling secure and reliable communications from any device, across any network.”

“Users are increasingly connected and expect to communicate anytime and anywhere using their application, device, and network of choice. Oracle Communications along with Acme Packet can help service providers and enterprises meet these demanding requirements,” Oracle said in a statement.

Oracle Corporation (NASDAQ:ORCL) Chief Executive Larry Ellison, the person behind Oracle’s dramatic revenue growth over the past decade, said in October he would not rule out a big deal “down the road”.

With this deal, Oracle intends to make Acme Packet, Inc. (NASDAQ:APKT) a “core offering” in its communications portfolio. A combined mission with Oracle, Acme Packet can also expect to  “provide customers with purpose-built, innovative solutions to accelerate the deployment of all-IP networks and help deliver a superior experience across services, devices and networks.”

Oracle Corporation (NASDAQ:ORCL) foresees this deal as a significant segment in Oracle’s overall strategy “to deliver integrated best-in-class products that address critical customer requirements in key industries,”. Oracle aims to enable service providers and enterprises to deliver innovative solutions that will change the way users interact, conduct commerce, deliver healthcare, and secure their homes.

Acme Packet, Inc. (NASDAQ:APKT) reported fourth-quarter earnings of 9 cents per share, excluding items, on revenue of $70.7 million.

The deal is expected to close in the first half of 2013.