Oracle Buys Sun Microsystems

By Kevin Spak,  Newser Staff
Posted Apr 20, 2009 7:20 AM CDT
A sign for Oracle software hangs at the annual National Retail Federation conference Wednesday, Jan. 14, 2009 in New York.   (AP Photo/Mark Lennihan)
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(Newser) – Oracle Corp. has agreed to buy Sun Microsystems, swooping in after Sun’s talks with IBM fell apart. Oracle will pay $7.4 billion, or $9.50 a share for Sun, the Wall Street Journal reports, a 42% premium on Friday’s close. Though Sun has been losing money, Oracle expects the deal to tack $1.5 billion onto its profits in the first year, and called Sun’s Java platform “the most important software” it’s ever acquired.