Report: IBM to Pay $7 Billion for Sun
Over the last couple of weeks, talk of Sun has centered around who the company is selling itself to, and for how much. While IBM is more than likely the answer to the first question, today brings a tentative answer to that second question.
Rumors that IBM was set to acquire Sun were what kicked this whole thing off in the first place. After that, there was reports that Sun was shopped around Silicon Valley before arriving at IBM’s doorstep. Then there was news that Sun was realigning itself and letting go a ton of employees, leading a lot of folk to believe it was trimming itself of any fat in order to appear more appealing to potential buyers.
The New York Times today reports that IBM is set to fork out 7 billion for its longtime rival. According to the NYT, which cites people familiar with the discussions (and not authorized to speak publicly, oops), IBM is offering $9.50 a share, down from a bid of $10 a share. Sources said the new agreement would restrict IBM’s ability to walk away from the deal.
Shares of IBM rose more than 3 percent on Thursday, to $100.82, and Sun’s shares rose more than 2 percent, to $8.21.
Get Tom's Hardware's best news and in-depth reviews, straight to your inbox.
Jane McEntegart is a writer, editor, and marketing communications professional with 17 years of experience in the technology industry. She has written about a wide range of technology topics, including smartphones, tablets, and game consoles. Her articles have been published in Tom's Guide, Tom's Hardware, MobileSyrup, and Edge Up.
-
grieve I never relised SUN was worth so much... 7 Billion! I was thinking they were more like 1 Bil.Reply -
jhansonxi Sun's server business is dying but their services are strong. IBM wants more influence on their related open source projects also. Sun's a bargain now compared to what it was worth two years ago.Reply -
jhansonxi josheryMYSQL belonging to IBM????It will be interesting to see what they do with MySQL. They already have DB2 and Informix.Reply -
Greatwalrus mmm, can't wait to download some IBM Java.Reply
:\ I hope they keep the name Sun.
4c1dr41n4Yeah, you can read Sun four times in that tilted square.
I never realized how amazingly awesome their logo is. -
idisarmu ...does this mean r.i.p. Openoffice? ...I hope that IBM makes openoffice better or at least doesn't start neglecting it or oppressing it.Reply -
I'd recommend everyone to at least download and save their (working) copy of SUN Java.Reply
You never know if IBM will start charging or perhaps creates something worse!
I got my version safe and sound on my HD!
And just in case IBM will do a better job for free, I'll switch over to IBM!