Sun CEO Tweets Resignation

Jonathan Schwartz is now the former CEO of Sun Microsystems after he tweeted “Financial crisis/Stalled too many customers/CEO no more,” This after the company was acquired by Oracle and Oracle’s chief executive, Larry Ellison, publicly saying that he hoped that Schwartz would resign rather than play any role in the combined company. Schwartz was the first fortune 200 CEO to blog and is apparently the first to resign via Twitter.

As for his future Schwartz reportedly said “In the short run, I’m planning to spend some long overdue time with my family. Longer run, with a few million businesses and a few billion consumers on the Web, rumor has it there are some interesting opportunities to be had.”

I'll bet he's right!

Source: The New York Times Bits Blog

Cognos agrees to purchase by IBM

Canada's largest software developer, Cognos, has agreed to a $5 Billion buyout by IBM. The move comes on the heals of similar deals for Cognos competitors Business Objects by SAP and Hyperion Solutions Corp. by Oracle. "We chose Cognos because of its industry-leading technology that is based on open standards," said Steve Mills, senior vice-president in IBM's software group. CBC has more here.