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IBM Might Buy Sun Microsystems

3/20/2009 12:02:00 AM
Whoa! This is pretty big news in the business/geeky engineer world. A friend of mine worked for Sun for many years but recently jumped ship to go to Apple corporate after all the layoffs and such that Sun has been experiencing. They've got a big office in Burlington (I think) which could be affected big time by this acquisition.

International Business Machines Corp. is reportedly in talks to buy Sun Microsystems Inc. for at least $6.5 billion in cash, a deal that would directly affect more than 6,000 workers in Massachusetts.

The purchase price, first reported by the Wall Street Journal, would be a 100 percent premium over Sun's closing price of $4.97 a share Tuesday. Sun shares opened trading on Tuesday up more than 68 percent at $8.36. IBM was down almost 4 percent at $89.46.

The deal would be the largest acquisition in IBM history.

I guess we won't know what this means for MA workers until after the acquisition happens - if it happens at all. But hopefully it won't mean job losses for us. The last thing we need is more unemployed folks.

Click (here) to read the rest of the article.

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