Oracle buys Sun for $7.4B

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In the big news outside of earnings, Oracle is acquiring Sun Microsystems in a deal the two companies said would see Oracle acquire Sun stock for $9.50 a share, a nearly 30 percent premium over the Friday closing price.
Sun [JAVA 6.69 0.29 (+4.53%) ] shares immediately soared 27 percent on the news, while Oracle [ORCL 19.06 -0.12 (-0.63%) ] fell 4.25 percent.
The transaction is valued at approximately $7.4 billion, or $5.6 billion net of Sun's cash and debt.
The acquisition of Sun transforms the IT industry, combining best-in-class enterprise software and mission-critical computing systems," said Oracle CEO Larry Ellison. "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."


There are substantial long-term strategic customer advantages to Oracle owning two key Sun software assets: Java and Solaris.

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