Sun Takeover Looming?
Published: 21 August 2008
by Staff
SANTA CLARA, CA – Based on conjecture as a result of a dropping share price and dismal forecasts, server and software maker Sun Microsystems could be a prime takeover target for Hewlett-Packard, Fujitsu, IBM, Dell or another technology firm, say published reports.
If speculation comes to fruition, a sale of this caliber would mean a dollar amount in the billions.
No talks have been confirmed, but some analysts still say Sun is ripe for big players. However, other analysts say Sun’s goal is to fix the business rather than sell.
Sun has annual sales of $13.9 billion and a workforce of nearly 35,000 globally, according to published reports, making it the seventh-largest Silicon Valley-based firm.
The company said profits fell to $88 million from $329 million in the most recent quarter compared to the same period last year. Revenues were $3.78 billion, down 1.6% year-over-year.
Sun’s CFO, Mike Lehman, reportedly projected "modest, low-single-digit growth" in revenue for the next full year.
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