Oracle Buys Sun for $7.4 Billion

Apr 21, 2009

Oracle Corporation and Sun Microsystems announced 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. There are long-term strategic advantages to Oracle owning two Sun software assets: Java and Solaris. Oracle Fusion Middleware is built on top of Sun’s Java language and software. The Sun Solaris operating system is the leading platform for the Oracle database. The Board of Directors of Sun Microsystems has unanimously approved the transaction. It is anticipated to close this summer, subject to Sun stockholder approval, certain regulatory approvals and customary closing conditions.