Sun To Acquire MySQL For $1B
Sun Microsystems Inc. has come to an agreement to purchase open software maker MySQL AB for $1 billion, padding out the server maker’s services with the company that provides technology to some of the heavy hitting websites worldwide according to the Associated Press.
In separate announcements, Sun said that its second quarter revenue would just exceed the Wall Street projections, saying profit would fall on the high end of analysts’ estimations. This first round of results was released ahead of schedule.
The company is paying $800 million in cash and taking $200 million in options under the deal to acquire MySQL. The firm makes open-source database software used by Google, Facebook and Nokia to name a few.
The acquisition will be closed in the third or fourth quarter. Sun is also expected to gain a net income of $230-$265 million which is equivalent to 28-32 cents a share. The company also confirmed that it expects to make $3.6 billion in sales in the second quarter.
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