Sun Microsystems is reported to be in negotiations for a possible $6.5 billion sale to IBM, a deal that would shake up the global tech industry and spell the end of a venerable but now-struggling Silicon Valley pioneer.
The talks were reported this morning by the Wall Street Journal, which cited unnamed sources familiar with the matter. A Sun spokeswoman declined comment on the report; an IBM spokeswoman said she could not immediately comment.
Sun's stock, which closed at $4.97 on Tuesday, was soaring above $7.50 this morning.
Speculation about a possible sale of Sun has swirled since last summer, as the company was struggling with slipping sales even before the recession hit other tech companies last fall. Sun, which is known for its Java programming language and has lately made a push into database programs and other open-source software, was seeing sales drop off in its core business of selling high-end computer servers and storage business.
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Wednesday, March 18, 2009
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