Welcome!

Java Authors: Jeremy Geelan, Liz McMillan, Hari Gottipati, Tad Anderson, Yakov Fain

Related Topics: Oracle

Oracle: Article

Oracle-Sun: $7.4BN Deal Will Close Already This Summer

A More Profitable Acquisition Than BEA, PeopleSoft and Siebel Combined
By Oracle News Desk
Article Rating:
April 20, 2009 10:15 AM EDT
Reads:
 10,178

“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,” said Oracle's President Safra Catz (pictured), after the board of both Oracle and Sun unanimously approved the acquisition of Sun by Oracle for $7.4 billion in a deal anticipated to close this summer, subject to Sun stockholder approval, certain regulatory approvals and customary closing conditions.

“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,” said Catz in an offiocial statement this morning, before adding that the $1.5BN was a very satisfying aspect of the deal indeed:

“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."

Published April 20, 2009 – Reads 10,178
Copyright © 2009 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.

More Stories By Oracle News Desk

Oracle News Desk trawls the world's news information sources and brings you timely updates on Oracle and its ever-expanding enterprise software portfolio, including its entire range of tools for managing business data, supporting business operations, and facilitating collaboration and application development.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.