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Oracle Buys Sun of $7.4B

In a stunning turn of events, Oracle steps in and buys Sun amist the breakdown of IBM's attempt to acquire Sun.

Wow, I'm speechless. After the IBM deal feel through, I was confident that IBM was getting tough in their negotiations and would come back and buy up Sun when the smoke cleared, but I didn't see Oracle coming through and sweeping them up before IBM could do anything about it!

Here are the details, Oracle is buying Sun for $9.50 a share, which is a 42% premium over Sun's Friday close. Sun's board of directors have approved the transaction and Oracle expects to complete the transaction by this summer.

What does this mean to Java? I expect it will allow our industry to retain that balance between IBM and Sun, after all it is always good to have competition to keep everyone innovating. And with Oracle's acquisition of BEA last year, they have demonstrated their support of Java. If you're not going open source, you now have two awesome Java platforms to consider: WebSphere on AIX with DB2 versus WebLogic on Sun with Oracle, the latter of which is a combination that I have used countless times in the past.

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