Oracle will acquire Sun Microsystems for $7.4 billion, or $5.6 billion net of Sun’s cash and debt. The deals comes after IBM withdrew its offer to buy Sun earlier this month.
“The acquisition of Sun transforms the IT industry, combining best-in-class enterprise software and mission-critical computing systems,” said Oracle CEO Larry Ellison in a statement. “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.”