Oracle Outbids IBM for Sun Microsystems

For the last few months, Sun Microsystems had appeared to be on the verge of being purchased by IBM. On Monday, many industry experts were shocked to learn that Oracle had hopped over IBM and has reportedly bought Sun Microsystems for $7.4 billion.

Sun Microsystems had made it clear that they were for sale. Their sales had been slumping and the future didn’t appear bright for the company. However, they were a hot commodity because of the large industry reach, recognizable brand and an array of impressive customers.

The deal for Oracle now makes them a much more powerful company. Some industry experts say that Oracle can now compete on the same level as IBM following this deal. With Oracle’s reputation of knowing how to cut corners and milk every penny out of a business plan, they are a good match to fix Sun Microsystems’ problems.

Oracle was founded in 1971 and is one of the leading business software solutions companies in the world. Sun Microsystems was founded in 1982 and its main business is in the computer servers industry.

Oracle Building (Image: Flickr)