Sun and Oracle today announced a definitive agreement for Oracle to acquire Sun for $9.50 per share in cash. The Sun Board of Directors has unanimously approved the transaction. It is anticipated to close this summer.
The acquisition combines best-in-class enterprise software and mission-critical computing systems. Oracle plans to engineer and deliver an integrated system—applications to disk—where all the pieces fit and work together so customers do not have to do it themselves. Customers benefit as their system integration costs go down while system performance, reliability and security go up.