In a stunning new development, Oracle announced today that it will acquire Sun Microsystems for $7.4 billion. The agreement comes just two weeks after IBM ended its talks with Sun. IBM had lowered its offer to $9.40 a share from $10 a share. Oracle is offering $9.50 a share, according to the New York Times.
"This combination is a natural evolution of our relationship and will be an industry-defining event," Scott McNealy, Sun's co-founder and chairman said in a statement.
This deal also puts Oracle in a new role in the hardware business, according to the New York Times.
For more on this deal:
- check out this New York Times article [1]
Related Articles:
IBM ready to gobble up Sun Microsystems [2]
IBM-Sun deal fails over payments and terms [3]
Oracle grabs BEA for $8.5 billion [4]
Links:
[1] http://www.nytimes.com/2009/04/21/technology/companies/21sun.html?partner=rss&emc=rss
[2] http://www.fiercecio.com/story/ibm-ready-gobble-sun-microsystems/2009-03-18
[3] http://www.fiercecio.com/techwatch/story/ibm-sun-deal-fails-over-payments-and-terms/2009-04-07
[4] http://www.fiercecio.com/story/oracle-grabs-bea-8-5-billion/2008-01-17