|Oracle Buys Sun Microsystems|
|By Thom Holwerda, submitted by tsedlmeyer on 2009-04-20 11:53:37|
|We've been debating the merits of a possible IBM-Sun deal for a while now, and even Sun itself seemed to be in the dark as to if it would be a good idea to be bought by IBM. These debates are now all moot: in a surprise move (at least, I didn't see any speculation about it) Oracle has bought Sun Microsystems, at USD 9.50 a share, which equates to a total of 7.4 billion USD. The news got out through a press release.
"The acquisition of Sun transforms the IT industry, combining best-in-class enterprise software and mission-critical computing systems," said Oracle CEO Larry Ellison in the press release, "Oracle will be the only company that can engineer an integrated system - applications to disk - where all the pieces fit and work together so customers do not have to do it themselves. Our customers benefit as their systems integration costs go down while system performance, reliability and security go up."
"This is a fantastic day for Sun's customers, developers, partners and employees across the globe, joining forces with the global leader in enterprise software to drive innovation and value across every aspect of the technology marketplace," said Jonathan Schwartz, Sun's CEO, also in the press release, "From the Java platform touching nearly every business system on earth, powering billions of consumers on mobile handsets and consumer electronics, to the convergence of storage, networking and computing driven by the Solaris operating system and Sun's SPARC and x64 systems. Together with Oracle, we'll drive the innovation pipeline to create compelling value to our customer base and the marketplace."
The deal has received unanimous approval of Sun's board, and is likely to go down this summer, after shareholder approval.
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