Oracle Corp plans to buy Sun Microsystems Inc for more than $7 billion, after the high-end computer server and software maker’s talks with IBM fell apart.
In a surprise announcement on Monday, Oracle said it will pay $9.50 a share. Sun had previously turned down IBM’s offer to pay up to $9.40 a share, according to sources with knowledge of the matter…
Talks between Sun and Oracle began late on Thursday, according to a source with knowledge of the matter who spoke on condition of anonymity.
The two companies have been partners with more than two decades. Oracle’s Fusion Middleware, its fastest-growing business, is built on Sun’s Java software. Sun’s Solaris operating system is also a main platform for Oracle’s database business…
Sun’s board had unanimously approved the deal, which is subject to shareholder and regulatory approval.
Let the market analysis begin…
So, they went down the street for a dime? Absurd.
that would be about $74.5 million.
@#1 Agreed – absurd. Presumably there are other reasons. Perhaps they felt it was a better fit, or realized they to take the plunge.
Personally I’m not a fan on Oracle, Oracles CEO, or Oracles crappy super expensive database software. SQL*forms/report… shivers….
So I’d prefer if they’d gone with IBM. Better chance of Open Office staying open + fits with IBMs open standards move.
Java and OpenOffice are frakked now.
@Improbus
I’m much more concerned about MySQL. As soon as I heard this, I started planning to transition our systems to PostgreSQL.
@#5 Alan
Holy crap – I forget Sun bought MySql. Suddenly it all seems clear.
Does anyone else think that Oracle needs some Justice Department love?
Wonder what will happen to VirtualBox?
Yikes! Uncle Larry owns Java… be afraid, be very afraid.
MySQL & OpenOffice… Crap.
IBM was a better suitor, but that would have hit woes and uncertainties with the Feds trying to decide whether or not such a merger created a competition problem.
In the end, Sun just needed rescued from the bad numberz.