recommended reading

Oracle to Buy Sun

ARCHIVES

By Jill R. Aitoro April 20, 2009

recent posts

Officially squashing rumors of an IBM purchase once and for all, Sun Micro Systems will be acquired by software company Oracle for about $7.4 billion, The New York Times reported this morning.

The deal, which comes to $9.50 a share, is nearly $1 billion more than what Big Blue offered and Sun refused two weeks ago. It's also nearly twice Sun's market value, which closed at $6.69 per share Friday, the Times reported. The deal is expected to close this summer.

Mark Amtower, a contracting specialist and founder of consulting and government marketing firm Amtower & Co., blogged that the deal will likely make Sun more competitive, because the company now has the financial backing of Oracle, who reported on Saturday net income of $1.33 billion for the third quarter of 2009. Cash flows were $8 billion for the past 12 months.

JOIN THE DISCUSSION

Close [ x ] More from Nextgov