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Oracle takes over Sun Microsystems

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While we had an impression that IBM was the most interested to acquire Sun Microsystems, Oracle today announced that they have taken over Sun and will acquire the common stock for $9.50/share. The deal is valued around $7.4 billion which is almost a billion more than what IBM rumored to offer.

The acquisition will likely benefit Oracle’s database business which is run widely on Sun’s Solaris operating system.

The Board of Directors at Sun Microsystems has unanimously approved the deal and expects it to close by this summer.

Press Release

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