Breaking News: Sun Microsystems to be bought by Oracle

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It has been reported and confirmed on a number of news and tech sites that the software giant Sun Micro will be bought out Oracle for $9.50USD a share, equaling an approximate $5.6 Billion USD (Net) deal to be closed at the end of August.
IBM backed out of a deal earlier this year which prompted the way for Oracle to take advantage of the falling apart. It is believed that this buyout will add 15 cents a share to Oracle’s share stock and price.

UPDATE: Terence Huynh has written up a follow-up piece.