Summary
Oracle Corporation (ORCL) has officially completed its acquisition of Sun Microsystems, Inc. through a merger completed on January 26, 2010. Each share of Sun common stock was converted into $9.50 in cash. This significant transaction was funded through Oracle's existing cash reserves, operational cash flow, and prior borrowings, indicating a strategic move to expand Oracle's market presence and technology portfolio. While the immediate financial statements and pro forma information for the acquired Sun assets will be filed later via amendment (within 71 days), the completion of this merger marks a pivotal moment for Oracle. Investors should anticipate future filings that will detail the financial impact of this acquisition, including the integration of Sun's assets and operations into Oracle's business model.
Key Highlights
- 1Completion of the merger between Oracle and Sun Microsystems, Inc. effective January 26, 2010.
- 2Sun Microsystems shareholders will receive $9.50 in cash for each share of Sun common stock.
- 3The acquisition was funded by Oracle's internal cash, cash from operations, and previous borrowings.
- 4Sun Microsystems will operate as a wholly-owned subsidiary of Oracle post-merger.
- 5Oracle announced the completion of the acquisition via a press release filed on January 27, 2010.
- 6Detailed financial statements and pro forma information for the acquired business will be filed at a later date via amendment (within 71 days).