Oracle said it will buy Sun Microsystems, creator of widely used Java software, in a cash deal worth $5.6 billion that unites two of Silicon Valley's most storied technology companies. The total market value of the deal is $7.4 billion, or $9.50 per share, including Sun's debt and cash on hand. The deal with Oracle comes shortly after IBM ended its own bid to buy Sun. For Oracle, the acquisition fills a crucial gap in the company's so-called middleware business. The inclusion of Java as well a Sun's Solaris operating system for mainframe computers will enable Oracle to offer corporate customers a full suite of software and hardware products to address virtually all their technology needs. CEO Larry Ellison says Java is the "most important software we've ever acquired."
Edited to add: At its peak Sun Microsystems was valued at $121 billion
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