Monday, April 20, 2009

Oracle buys Sun Microsystems.

The American Oracle, the third-largest software company in the world, Sun Microsystems will acquire the company for 5.6 billion dollars, the corporation said in an official joint press release. Given the debt and free cash flow Sun Microsystems amount of the transaction amount to 7.4 billion dollars (9.5 dollars per share).
It is anticipated that the transaction will close during the summer of 2009, after the company get approval of U.S. authorities and shareholders of companies.
Earlier in April, Sun Microsystems Board of Directors rejected the proposal on the purchase of IBM, then IBM withdrew its proposal to buy Sun. One of the reasons for collapse of the deal was that Sun is not arranged for the leaders of the proposed amount for the company - 9.4 dollar per share, while IBM was originally intended to buy the Sun, paying for one share of 10-11 dollars.
Company Sun Microsystems is one of the world's largest manufacturers of servers and workstations. Sun is also known as the developer of operating systems, Java platform and the party to project OpenOffice.org.
In March 2009 it was reported that Sun Microsystems will reduce staff by one and a half thousand people for the restructuring, announced in November 2008 (a reduction of 15-18 per cent). In late January 2009 from the Sun has already laid off 1300 people.
Oracle is one of the largest developers of database management systems, tools for database development, and ERP-systems. The most famous product is Oracle - TimeZero database management system.

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