Oracle Buys Sun Microsystem

Today in a press release it was declared that Oracle has agreed to acquire Sun Microsystem. This deal happened after IBM withdrew it's offer to buy Sun Microsystem earlier this month. The press release says that the transaction is valued at approximately $7.4 billion, or $5.6 billion net of Sun's cash and debt.

Oracle CEO Larry Ellison said in a statement that "The acquisition of Sun transforms the IT industry, combining best-in-class enterprise software and mission-critical computing systems,". He also said that "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."

@breakingnews confirmed until the deal closes, Oracle said that each company will continue to operate independently, and it is business as usual. Till now this news is confirmed by New York Times, Reuters, Bloomberg et al.

TechCrunch reported that Oracle calling Sun’s Java "the most important software" it has ever acquired, although MySQL has not been mentioned as of yet. Further reports are yet to arrive, so stay tuned to The Chronicles of R to remain updated about this story. And if you are a first time visitor, consider subscribing to my RSS feed.