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Oh I can tell exactly what they gained.
First, they gained a permanent seat on the JCP (Java Community Process Board), which gives them more infuence over the future of Java. And Oracle's entire enterprise application stack is built on Java.
Second, they gained the Solaris operating system, which has long been the "gold standard" for running high transaction / high availability Oracle databases.
Third, they gained control of Sun's hardware business.
What they hope to do with all this is simple. They want to become a full solution provider for all your data needs. They will probably build "database appliances" with zero maintenance and such. Just shove your data into it, pull it back out, and you are good to go. Edited 2011-06-01 21:38 UTC
Don't forget they also got MySQL, and probably more importantly the customer base from Sun as well. The patent portfolio is also nothing to be sneezed at Edited 2011-06-01 21:52 UTC
True. MySQL might be important to their small business strategy. Small business don't run Oracle after all. Too expensive, and also largely too complicated for their needs.
They gained also the right to sue Google for Dalvik that is similar to Java virtual machine for mobiles phones.