Oracle bid for Sun Microsystems
Oracle make 11th hour bid for Sun Microsystems in order to acquire Java rights
Oracle make 11th hour bid for Sun Microsystems in order to acquire Java rights
Oracle, one of the largest suppliers of business accounting software, has
made a $7.4bn (£5.08bn) bid for Sun Microsystems, just weeks after IBM failed in
a similar attempt.
Larry Ellison, the chief executive at Oracle, unveiled the offer earlier this
week and believes that Sun’s Java programming language could have greater
earnings potential, the Financial
Times reported.
Ellison said Java, which can be used for web applications as well as updating
traditional technology, is ‘the single most important software asset we have
ever acquired.’
The deal is expected to boost Oracle’s share price by $0.15 in the first year
of the deal and lift pro forma operating profits by $1.5bn, rising to $2bn the
following year.
The bid was made two weeks after IBM’s bid for the software company fell
apart, but Oracle values Sun at the same price – $9.50 per share.
Although Java is used by PC’s mobile phones and Blackberry devices, Sun
licensed its rights cheaply.
If the acquisition goes ahead, it will mean more to Oracle than the previous
acquisitions, most notably PeopleSoft and Siebel Systems, which have
traditionally been focused on applications.
Further reading:
IBM/Sun Microsystems deal breaks down
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