Oracle acquire Sun Microsystems

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Earlier this month, IBM has withdrawn an acquisition offer for Sun Microsystems for $ 9.4 per share. This open a place for Oracle, which offered $9.5 per share for Sun, 42% more than Sun market value (on Friday Sun shares were $6.69).

Sun has agreed to this acquirement for 7.4 billion dollars, and the all process should be closed this summer. Oracle hopes that, with purchasing Sun will realize additional profits from the 1.5 billion next year and 2 billion dollars profits in the year after.

Here is short parts of press release:

"The acquisition of Sun transforms the IT industry, combining best-in-class enterprise software and mission-critical computing systems. Oracle will be the only company that can engineer an integrated system - applications to disk - where all the pieces fit and work together so customers do not have to do it themselves. Our customers benefit as their systems integration costs go down while system performance, reliability and security go up." - said Larry Ellison, Oracle CEO

"This is a fantastic day for Sun's customers, developers, partners and employees across the globe, joining forces with the global leader in enterprise software to drive innovation and value across every aspect of the technology marketplace. From the Java platform touching nearly every business system on earth, powering billions of consumers on mobile handsets and consumer electronics, to the convergence of storage, networking and computing driven by the Solaris operating system and Sun's SPARC and x64 systems. Together with Oracle, we'll drive the innovation pipeline to create compelling value to our customer base and the marketplace." - said Jonathan Schwartz, Sun Microsystems CEO

Full press release here.

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