anon
20.04.09, 18:47
Sun Microsystems has agreed to be bought by US tech giant Oracle in a $7.4bn (£5.1bn) deal, just two weeks after takeover talks with IBM fell apart.
Oracle announced today that it will pay $9.50 a share for Sun, making the company the latest in a string of acquisitions for Oracle's chief executive Larry Ellison.
Sun's board has unanimously backed the deal, which is likely to have major implications for the IT industry.
Oracle's offer is only slightly more than IBM was proposing to pay. The future of Sun was plunged into uncertainty on 6 April when the IBM talks collapsed.
Oracle, which offers a range of business software including databases, customer relationship management programs and collaboration tools, hopes to conclude the deal by this summer.
Oracle buys Sun Microsystems in $7.4bn deal | Business | guardian.co.uk (http://www.guardian.co.uk/business/2009/apr/20/oracle-buys-sun-microsystems)
Oracle announced today that it will pay $9.50 a share for Sun, making the company the latest in a string of acquisitions for Oracle's chief executive Larry Ellison.
Sun's board has unanimously backed the deal, which is likely to have major implications for the IT industry.
Oracle's offer is only slightly more than IBM was proposing to pay. The future of Sun was plunged into uncertainty on 6 April when the IBM talks collapsed.
Oracle, which offers a range of business software including databases, customer relationship management programs and collaboration tools, hopes to conclude the deal by this summer.
Oracle buys Sun Microsystems in $7.4bn deal | Business | guardian.co.uk (http://www.guardian.co.uk/business/2009/apr/20/oracle-buys-sun-microsystems)