Oracle to Buy Sun MicroSystems for $7.4 billion

The renowned Information Technology company Sun who is mainly known for company who invented most used Java Technology and also known for their Servers is going to be sold out in near future according to sources.Oracle is going to buy SunMicroSystems for $7.40 billion after IBM pulled out after bidding $7.00 billion.The Oracle corp is agreed to pay $7.4 billion in a complete cash deal.This came as a shock after a week of IBM pullout.IBM valued SunMicrosystems for $7 billion,But Sun was not agree on this they demanded to raise the price value of their shares to $58 which was strictly denied by the governing body of IBM.This deal is surely going to hurt IBM since Oracle is giving a very tough market competition to IBM.After buying Sun MicroSystems ,Oracle will get a niche in the market which is led by the biggest company HP.IBM were hoping that if they will buy Sun They will rule the market of Unix Servers but somehow they can't just wake up on the call.They must have thought about the call of Sun to raise the price a bit.As you can see Oracle came of nowhere to clinch the deal which will be great advantage to them over rival companies in the market of Java enabled Unix servers.Oracle's market is rising and they want to give it a fly.If this deal happens then no doubt Oracle will also be in line with HP and IBM for providing servers and with open source Java, that will be huge advantage to Oracle which is mainly known for its database related products.