Oracle to buy Sun Microsystems for $7.4bn

The world's number two software company, Oracle Corporation, today agreed to buy hardware company provider Sun Microsystems Inc for $7.4 billion, or $9.50 a share, in cash, pushing the software company into high-end computing system, according to media reports.

There will be impact of the deal on existing units of both companies in India. However, the official have not commented on the impact of the deal on Indian units of the both companies. IBM reportedly abandoned the bit to by Sun and the Oracle has finalized the deal to purchase.

Oracle is one of the largest multinational employers in India with more than 25,000 employees. Sun Microsystem has 1,200 people in India.