We’ve been debating the merits of a possible IBM-Sun deal for a while now, and even Sun itself seemed to be in the dark as to if it would be a good idea to be bought by IBM. These debates are now all moot: in a surprise move (at least, I didn’t see any speculation about it) Oracle has bought Sun Microsystems, at USD 9.50 a share, which equates to a total of 7.4 billion USD. The news got out through a press release.
“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.”
“This is a fantastic day for Sun’s customers, developers, partners and employees across the globe, joining forces with the global leader in enterprise software to drive innovation and value across every aspect of the technology marketplace,” said Jonathan Schwartz, Sun’s CEO, also in the press release, “From the Java platform touching nearly every business system on earth, powering billions of consumers on mobile handsets and consumer electronics, to the convergence of storage, networking and computing driven by the Solaris operating system and Sun’s SPARC and x64 systems. Together with Oracle, we’ll drive the innovation pipeline to create compelling value to our customer base and the marketplace.”
“Sun is a pioneer in enterprise computing, and this combination recognizes the innovation and customer success the company has achieved. Our largest customers have been asking us to step up to a broader role to reduce complexity, risk and cost by delivering a highly optimized stack based on standards,” said Oracle President Charles Phillips. “This transaction will preserve and enhance investments made by our customers, while we continue to work with our partners to provide customers with choice.”
The deal has received unanimous approval of Sun’s board, and is likely to go down this summer, after shareholder approval.
About Oracle
Oracle (NASDAQ: ORCL) is the world’s largest enterprise software company. For more information about Oracle, please visit thes Web site at http://www.oracle.com.
About Sun Microsystems
Sun Microsystems, Inc. (NASDAQ: JAVA) develops the technologies that power the global marketplace. Guided by a singular vision — “The Network is the Computer” — Sun drives network participation through shared innovation, community development and open source leadership. Sun can be found in more than 100 countries and on the Web at http://www.sun.com.
When a thick lava flow cools it contracts vertically but cracks perpendicular to its directional flow with remarkable geometric regularity – in most cases forming a regular grid of remarkable hexagonal extrusions that almost appear to be made by man. One of the most famous such examples is the Giant’s Causeway on the coast of Ireland (shown above) though the largest and most widely recognized would be Devil’s Tower in Wyoming. Basalt also forms different but equally fascinating ways when eruptions are exposed to air or water.
Blue holes are giant and sudden drops in underwater elevation that get their name from the dark and foreboding blue tone they exhibit when viewed from above in relationship to surrounding waters. They can be hundreds of feet deep and while divers are able to explore some of them they are largely devoid of oxygen that would support sea life due to poor water circulation – leaving them eerily empty. Some blue holes, however, contain ancient fossil remains that have been discovered, preserved in their depths.
Red tides are also known as algal blooms – sudden influxes of massive amounts of colored single-cell algae that can convert entire areas of an ocean or beach into a blood red color. While some of these can be relatively harmless, others can be harbingers of deadly toxins that cause the deaths of fish, birds and marine mammals. In some cases, even humans have been harmed by red tides though no human exposure are known to have been fatal. While they can be fatal, the constituent phytoplankton in ride tides are not harmful in small numbers.
While many see these apparently perfect ice circles as worthy of conspiracy theorizing, scientists generally accept that they are formed by eddies in the water that spin a sizable piece of ice in a circular motion. As a result of this rotation, other pieces of ice and flotsam wear relatively evenly at the edges of the ice until it slowly forms into an essentially ideal circle. Ice circles have been seen with diameters of over 500 feet and can also at times be found in clusters and groups at different sizes as shown above.
True to their ominous appearance, mammatus clouds are often harbingers of a coming storm or other extreme weather system. Typically composed primarily of ice, they can extend for hundreds of miles in each direction and individual formations can remain visibly static for ten to fifteen minutes at a time. While they may appear foreboding they are merely the messengers – appearing around, before or even after severe weather.
Oh, the Things I Know 