Update: McNealy, Ellison to Announce Deal

The two top executives from Oracle Corp. and Sun Microsystems Inc. will make an announcement Monday described as "an industry shaping software deal" in a statement put out by the companies.

"This is a significant agreement between the two companies, aimed at taking low-cost, powerful and easy-to-use Internet computing to new levels," the companies said in another statement issued later.

Larry Ellison, Oracle chairman and chief executive officer, and Scott McNealy, chairman and CEOof Sun, will make the announcement Monday at 10:00 a.m. PST. The number for the teleconference is 1-888-454-8062 for domestic callers and +1-415-228-4644 for international callers.

Oracle, in Redwood Shores, California, can be reached at http://www.oracle.com/. Sun, in Mountain View, California, can be reached at http://www.sun.com/.