Oracle Sun-Oracle Agree to Buy Sun Microsystems

oracle-sunOracle agrees to acquire Sun Microsystems, Oracle to buy Sun in approximately $7.4 billion, or $5.6 billion net of Sun’s cash and debt, agreement with oracle occurred two weeks after discussion beetwen SUN Microsystems and IBM ended without approval agreement.
Here statement from Oracle President Safra Catz:

We expect this acquisition to be accretive to Oracle’s earnings by at least 15 cents on a non-GAAP basis in the first full year after closing. We estimate that the acquired business will contribute over $1.5 billion to Oracle’s non-GAAP operating profit in the first year, increasing to over $2 billion in the second year. This would make the Sun acquisition more profitable in per share contribution in the first year than we had planned for the acquisitions of BEA, PeopleSoft and Siebel combined

Read more SUN Microsystems Press Release

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