"Oracle" to take over "Sun Microsystems" for 7.4 billion USD

Companies "Oracle" and "Sun Microsystems" agreed on April 20th that "Oracle" can take over "Sun" at the price of 9.5 USD per stock in cash.

The transaction is estimated at 7.4 billion USD. The people in "Oracle" believe that the new acquisition will contribute to the further growth of the company, and that it will result in over 1.5 billion USD worth of operational profit in the first year.

The President of the company, Safra Katz, estimates that the acquisition of "Sun Microsystems" is more profitable than “Oracle’s” previous acquisitions - BEA, "PeopleSoft" and "Siebel" - altogether.

- This takeover changes the entire IT industry. By making this move, "Oracle" will become the only company that will be able to create an integrated system “from application to disc”. The operational system costs will be dropping, while the reliability, security and efficiency will be growing, which, I believe, is the most important to our users – said Larry Ellison, the Executive Director of "Oracle".

- "Oracle" and "Sun" are the pioneers in this industry and partners for more than 20 years. This acquisition represents a logical extension of our long-lasting cooperation, and it will be very significant for IT industry in general – said Scott McNealy, the President of "Sun".