IBM to Buy Sun Microsystems

For a hefty $6.5 billion in cash, IBM is in talks to purchase Sun Microsystems Inc. The deal could happen as early as this week. While Sun has been "struggling since the tech bust of 2001 to find its place" by cutting thousands of jobs and focusing on open-source software, the company has all but lost the shine from the dot-com era. News of IBM;s plan to take over the ailing company sent Sun shares skyrocketing to "$3.05, up 61 percent, to $8.02 in morning trading." IBM shares, however, were down "$2.46, or 2.7 percent, to $90.45."