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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:
 10,175

“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 10,175
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