In its latest—and largest—acquisition attempt, Oracle, which has amassed a series of huge enterprise companies to service a broad range of sectors including insurance, has reportedly made an offer for Sun Microsystems, founder of open source Java technology.

Oracle is offering $9.50 a share in a cash deal valued at $7.4 billion. The offer comes weeks after Sun rejected a bid from IBM, citing dissatisfaction with the price. In a bid that clearly tops its competitors, Oracle said the deal is valued at $5.6 billion net of Sun's cash and debt, MarketWatch reports.

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