"Oracle has finalized the Sun transaction and the deal has closed."
The above statement can be found on the Sun and Oracle: Overview and Frequently Asked Questions for the Developer Community page. Besides this simple but definitive statement, the page includes some answers to some of the early questions Java developers might have about Java under Oracle. Questions asked cover subjects such as Sun's Java development network pages, Java.net, future of JavaOne, and more.
Today's Oracle+Sun Strategy presentation has been well-covered in the blogosphere (though the dominant topic on the blogsphere today was the announcement regarding the Apple iPad). There is also a web page devoted to Oracle + Sun Product Strategy Webcast Series.
If you are a Java developer and don't already have an Oracle Technology Network account, it might be a good time to consider getting one.
The official press release on Oracle's finalizing of the Sun acquisition is available here and includes the simple statement: "Oracle Corporation announced today that it had completed its acquisition of Sun Microsystems, Inc."