Oracle to buy Sun Microsystems in $7.4 billion

The business software maker Oracle Corporation is going to acquire the server giant Sun Microsystems in a deal of about $ 7.4 billion. After this Oracle will also be a leader in hardware side of the computers.

Earlier Sun Had turned down the $7billion offer of IBM. This deal is also important in view of ongoing recession in IT industry where both Oracle and Sun had faced individual losses. Now this deal means a consolidation for both.

Oracle would finish the deal of acquiring Sun by summer with a price of $ 9.50 per share.

Tags: deal, Java, money, oracle, sun