EU Approves $7.4 Billion Deal Between Oracle And Sun

Thursday Jan 21st 2010 by Staff

The EU has officially given its blessing to the Oracle-Sun merger; now all that's standing in the way is Chinese and Russian approval.

TechCrunch: The European Union has officially granted approval for Oracle to purchase Sun Microsystems for $7.4 billion. The U.S. had already approved the deal, and Oracle says it expects to receive approval from China and Russia soon.

According to the press release, "The Commission’s in-depth investigation showed that although MySQL and Oracle compete in certain parts of the database market, they are not close competitors in others, such as the high-end segment."

Neelie Kroes, the European antitrust commissioner, added, "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 revitalize important assets and create new and innovative products."

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