BUSINESS

Oracle, Sun Microsystems

05/21/2009 05:12 am ET | Updated May 25, 2011

NEW YORK (CNNMoney.com) -- If the term "serial acquirer" were actually in the dictionary, it would probably be accompanied by a picture of Oracle Chief Executive Officer Larry Ellison.

Oracle (ORCL, Fortune 500) announced Monday that it was going to buy struggling server and software firm Sun Microsystems (JAVA, Fortune 500) for $9.50 a share, a 42% premium to Friday's closing price for Sun. The deal, including Sun's cash and debt, is valued at $7.4 billion.

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