Oracle-Sun: Schwartz shows up pundits, IBM ends up the loser

21.04.2009
Sun CEO Jonathan Schwartz, owner of perhaps the last CEO ponytail in Silicon Valley, has shown up the all-knowing pundits who dubbed him "." Less than two weeks after reportedly refusing an , Schwartz and his board have closed a deal with Oracle, one of the few companies doing well in the current recession. Schwartz, if reports are correct, will go home with an extra three years' pay.

More importantly, Oracle will soon own Java and Solaris, two of the most widespread technologies used by businesses for both external and internal network services.

Sun will get US$7.4 billion, or $9.50 per share, in cash. The company currently has $2.6 billion in cash and $700 million in long-term debt, according to a Wall Street Journal .