Sun's McNealy Bids Adieu - TheStreet

Sun's McNealy Bids Adieu

As Oracle prepares to take over Sun, co-founder and chairman Scott McNealy bids an emotional farewell.
Publish date:

REDWOOD SHORES, Calif. TheStreet) -- The sun has set for Scott McNealy, Sun's (JAVA) outspoken co-founder and chairman, who, on the eve of Oracle's (ORCL) - Get Report$7.4 billion acquisition of Sun, bid an emotional farewell to his company.

Yesterday McNealy sent an internal memo to Sun employees, which was published by


, outlining his feelings for the company he co-founded in 1982. The hockey-playing 54-year old has seldom missed an opportunity to trash-talk Sun's rivals, particularly during his 22-year tenure as CEO from 1984 and 2006.

True to form, McNealy's farewell letter mixes heartfelt feelings with his characteristic bullishness. Under the subject line "Thanks for a great 28 years," McNealy makes an impassioned departure from executive speak.

In addition to urging Sun's employees to "kick butt and have fun," McNealy describes the Santa Clara, Calif.-based firm as the "crown jewel of the technology industry."

"Nothing I could write comes close to matching the unbelievably strong and positive emotions I have for you all," he writes. "I truly loved starting, running and living Sun."

"To be honest, this is not a note this founder wants to write. Sun, in my mind, should have been the great and surviving consolidator. But I love the market economy and capitalism more than I love my company."

McNealy's note arrived as Oracle CEO Larry Ellison prepares to integrate Sun into the database giant. Oracle plans to hire 2,000 salespeople, engineers and developers, according to the

Wall Street Journal

, as well as build a line of high-end systems. Ellison discussed the plans in an interview on Tuesday, promising a significant shift in direction for the software giant which has not traditionally played in the hardware space.

Later today Oracle CEO Larry Ellison will unveil his plans for Sun in a five-hour webcast, outlining product roadmaps and his strategy to integrate the two firms.

In his memo, McNealy describes Ellison as "one of the greatest capitalists I have ever met" and predicts that Ellison will do well with Sun's assets.

Sun, which competes with


(IBM) - Get Report



(HPQ) - Get Report

, earned a reputation for poor execution in recent years but brings a slew of

attractive technology

to Oracle. In addition to its popular MySQL, Java, and Solaris offerings, Sun will also take Oracle into the storage and server markets, potentially opening up lucrative new revenue streams.

In his memo, McNealy acknowledges that he made "a ton" of mistakes at Sun, but urged people to remember the company's successes. "Though we did not monetize our inventions as well as we could have, few companies have the track record in R&D that we had over the last 28 years," he explained. "This made working at Sun really cool."

Most notably, though, he describes Sun as a financial success. "Long term and smart investors made billion," he added. "Our revenues over 28 years exceeded $200 billion."

-- Reported by James Rogers in New York

Related Stories:

>>Oracle's Buy of Sun Gets EU Approval

>>Sun-Oracle Deal Could Shake Up Tech

>>Sun May Shed Light on Oracle's Future

Follow James Rogers on


and become a fan of