IBM in talks to buy Sun: Report

IBM is in talks to buy Sun Microsystems in a transaction potentially valued at at least US$6.5 billion in cash, according to the Wall Street Journal.

IBM is in talks to buy Sun Microsystems in a transaction potentially valued at at least US$6.5 billion in cash, according to the Wall Street Journal.

"In recent months, Sun has approached a number of large tech companies in the hopes of being acquired, say people familiar with the matter," the US-based newspaper reported online today, noting that while the talks were under way with IBM, a conclusive deal might not eventuate.

Any deal to acquire Sun Microsystems, which was founded in 1982 and remains one of the world's largest technology software and hardware manufacturers, would be one of the biggest deals ever in the global technology sector.

Sun has a strong Australian presence, however the company's Australian chief Duncan Bennet resigned in February after it was revealed in December that the company's annual Australian product revenues had fallen by almost $100 million for the year to 30 June 2008, caused mainly by an unusually large deal the year before with Telstra.

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