bruunb writes "Oracle Corporation (NASDAQ: ORCL) and Sun Microsystems (NASDAQ: JAVA) announced today they have entered into a definitive agreement under which Oracle will acquire Sun common stock for $9.50 per share in cash. The transaction is valued at approximately $7.4 billion, or $5.6 billion net of Sun's cash and debt. '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,' said Oracle President Safra Catz."

NewsCloud alerts us to a story a few months old that has been getting a lot of play recently. A Seattle blogger, Dan Twohig, was browsing in Microsoft's Virtual Earth when he accidentally came across a photo of a nuclear sub in dry-dock. Its propeller is clearly visible — this was a major no-no on the part of someone at the Bangor Sub Base. The designs of such stealth propellers have been secret for decades. Twohig blogged about the find and linked to the Virtual Earth photo on July 2. The debate about security vs. Net-accessible aerial photography has been building ever since. The story was picked up on military.china.com on Aug. 17 — poetic justice for the Chinese sub photo that had embarrassed them a month before. On Aug. 20 the Navy Times published the article that most mainstream media have picked up in their more recent coverage. Twohig's blog is the best source to follow the ongoing debate. No one has asked Microsoft, Google, or anyone else to blur the photo in question. Kind of late now.