from the duck-and-cover dept.
The Register writes "Sun invited Oracle president Charles Phillips and chief corporate architect Edward Screven to an employee-only town hall this Wednesday, where they took questions on what's coming. They said they'd be 'crazy' to close Java, that Oracle 'needs' MySQL, and all Sun's processors look appealing. They hedged on OpenOffice — Phillips said he couldn't comment on any product line — and on Sun's work in high-performance computing. Screven made it pretty clear the Sun vision of cloud computing does not fit with Oracle's; Oracle sees itself as a provider of infrastructure like virtualization to make clouds, not a provider of hosted services. As for who's staying and who's getting cut at Sun: Phillips said Oracle needs Sun, but warned 'tough decisions' will be coming. Don't forget, this is the company that couriered pink slips to the PeopleSoft staff it cut following that acquisition."
from the there-can-be-only-one dept.
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."