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Goodbye IBM, hello Oracle

April 20, 2009 — 12:45pm ET | By Judi Hasson

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

Related Articles:
IBM ready to gobble up Sun Microsystems
IBM-Sun deal fails over payments and terms
Oracle grabs BEA for $8.5 billion

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Comments

By Bobcat | Posted 12:05pm | April 21, 2009

I would like to remind the media, that the International Business Machine is the father of technology.
There has been no peripheral circuiitry whom has not piggy banked from IBM. True oracle needs to step up to the plate and create a demand in order to exchange supplies.
Vis a vis, IBM is the bit,byte, binary numbers which started mass production. IBM perhaps you may downsize, reorganize, but a contiunation of qualitative, services is in his or her services.

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