Oracle, not IBM, will acquire Sun
With the new buy Oracle will own MySQL! Well, that’s really nothing compared to Oracle’s own database. But Oracle will now own Java too. Not that I care of course.
Oracle Buys Sun
Oracle Corporation (Nasdaq: ORCL) and Sun Microsystems (Nasdaq: JAVA) announced today they have entered into a definitive agreement under which Oracle will acquire Sun common stock for $9.50 per share in cash. The transaction is valued at approximately $7.4 billion, or $5.6 billion net of Sun’s cash and debt. “We expect this acquisition to be accretive to Oracle’s earnings by at least 15 cents on a non-GAAP basis in the first full year after closing. We estimate that the acquired business will contribute over $1.5 billion to Oracle’s non-GAAP operating profit in the first year, increasing to over $2 billion in the second year. This would make the Sun acquisition more profitable in per share contribution in the first year than we had planned for the acquisitions of BEA, PeopleSoft and Siebel combined,” said Oracle President Safra Catz.
So long as IBM is not the one buying it. It’s good to see Oracle moving into open source though. Oracle hasn’t been that embracing to the open source community. Perhaps the acquisition would change things.
[via Ridzuan through MSN]
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