Oracle to buy Sun for $7.4bn
Database giant Oracle is to buy Sun Microsystems for more than $7 billion. The deal comes just weeks after IBM ended its acquisition talks with Sun. Oracle announced the deal this morning, saying that the deal “combines best-in-class enterprise software and mission-critical computing systems”. Oracle will pay $9.50 a share for Sun, close to $3 higher than Sun’s closing price on Friday, and valuing the deal at $7.4 billion.
IBM previously offered $9.40 a share to buy Sun but the Microsystems board turned the deal down.
Purchasing Sun gives Oracle access to Sun’s Solaris operating system, it’s high-end server hardware division as well as the open source MySQL database which Sun bought for $1 billion in January last year.