This story has been updated. See below for details.
Oracle, not IBM, will be buying Sun Microsystems.
Oracle and Sun announced Monday that they have entered into a definitive agreement under which Oracle will acquire Sun common stock for $9.50 per share in cash. That puts the value of the transaction at about $7.4 billion, or $5.6 billion net of Sun's cash and debt.
Oracle President Safra Catz said in a statement: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 … Read more