Oracle to Buy Sun Microsystems for $7.4 Billion

[tomm2thumbs]

Source: Bloomberg

April 20 (Bloomberg) -- Oracle Corp. agreed to buy Sun Microsystems Inc. for $7.4 billion, or $9.50 a share in cash... Oracle said the boards of both companies unanimously approved the transaction, which is anticipated to close this summer, subject to Sun stockholder approval, certain regulatory approvals and customary closing conditions.

There will be a conference call today to discuss the transaction at 5:30 a.m. Pacific time. Investors can listen to the conference call by dialing [phone], passcode 923645.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=a38_8MJNSjR4&refer=home

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IBM had offered to buy Sun for $9.40 per share, but acquisition talks fell apart earlier this month after Sun canceled IBM's exclusive negotiating rights, and IBM withdrew its offer.

[ixion]

1. crap...

That does not bode well for java, IMO.

[mopinko]

2. or anything else

this makes me :puke:
but sun has been having some real quality control issues.

[jmowreader]

4. ...especially the "independent consultant" business

There are lots of companies who hire local computer companies to build them servers. There's no reason that Oracle, if they own a Hardware Company, wouldn't be able to set up a deal where you tell them about your business, give them a credit card number and sit back. Oracle sends a field rep to your company to figure out what you actually need then has its staff of Trained Coders whip up a good usable solution, mount it on a Sun server and ship it out to you. When it gets to your site, you plug it into your LAN, set the password and go.

[DS1]

5. Oracle and Sun have always gone together well

It's the weapon of choice for just about every bank I worked with

[DS1]

3. Hey, I finally made some money off the sucker

Too bad it was from a buyout and way too many job cuts. :(