Oracle One Step Closer to Purchasing Sun
The European Union announced Thursday, January 21 that they would allow Oracle’s $7.4 billion purchase of Sun Microsystems, according to an article in The New York Times. The decision came after months of Europe’s concern over the database software market. Oracle successfully calmed Europeans when they announced the continuation of MySQL, a widely used open source database application owned by Sun, for up to five years.
The European Union announced Thursday, January 21 that they would allow Oracle’s $7.4 billion purchase of Sun Microsystems, according to an article in The New York Times. The decision came after months of Europe’s concern over the database software market. Oracle successfully calmed Europeans when they announced the continuation of MySQL, a widely used open source database application owned by Sun, for up to five years. “I am now satisfied that competition and innovation will be preserved on all the markets concerned. Oracle’s acquisition of Sun has the potential to revitalise important assets and create new and innovative products,” Neelie Kroes, European Union Competition Commissioner, said in a statement. Despite Oracle’s quick success with the United States, and the approval of the European Union, support from China and Russia are still needed to make the acquisition of Sun final. However, in a statement posted on their web site, Oracle said they expect “unconditional approval from China and Russia and intends to close the transaction shortly.”
Commission clears oracle's proposed acquisition of sun microsystems (2010, January 21). [Online Forum Comment]. Retrieved from http://europa.eu/rapid/pressReleasesAction.do?reference=IP/10/4
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Saltmarsh, M. (2010, January 22). Oracle’s acquisition of sun wins approval of europeans. The New York Times, B2.