Mergers and Acquistions News
Categories: Media & Information Services
April 22nd 2009, 17:15PM
One of the enduring acquisition stories has reached a climax with the announcement of Oracle Corporation's acquisition of Sun Microsystems.
The deal is worth $7.4 billion (£5.1 billion), or $5.6 billion net of Sun's cash and debt.
Under the agreement, Oracle acquires Sun common stock at $9.50 per share in cash.
Through the acquisition, Oracle gains two well known brands in software - Java and Solaris, with the former described by Oracle as the most important software the firm has ever acquired.
With the purchase of Sun, Oracle is able to optimise the Oracle database for some of the unique, high-end features of Solaris.
Commenting on the acquisition, Sun chairman Scott McNealy said: "Oracle and Sun have been industry pioneers and close partners for more than 20 years.
"This combination is a natural evolution of our relationship and will be an industry-defining event."
Another potential suitor of Sun Microsystems, IBM, withdrew its bid earlier in the month.
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