Oracle Announces $7.4 Billion Acquisition of Sun

At 19:40 on the evening of April 20th, news emerged that Oracle Corporation, one of IBM's biggest competitors and the world’s largest database software company, had succeeded in acquiring Sun Microsystems. Today, Oracle announced a final agreement to purchase Sun's common stock at a price of $9.50 per share. The total value of this transaction is approximately $7.4 billion in cash. If Sun's cash and debt are not taken into account, the total value of the deal is approximately $5.6 billion.