Mergers and Acquistions News
Categories: Software
January 21st 2010, 16:39PM
The European Union's (EU) executive has approved the acquisition of Sun Microsystems by US software firm Oracle, after deciding that the $7.4 billion (£4.6 billion) deal, one of the biggest of recent years, would not significantly limit competition in Europe.
The Brussels-based authority has been investigating the planned acquisition deal since September, after some bodies raised concerns that it would lead to the combined firm having an undue degree of control over the database software market.
"I am now satisfied that competition and innovation will be preserved on all the markets concerned," commented EU competition commissioner Neelie Kroes.
"Oracle's acquisition of Sun has the potential to revitalise important assets and create new and innovative products."
In 2008, Sun Microsystems acquired MySQL, the world's leading open-source database, at a time when 85 per cent of the world's patented database market was in the hands of Oracle, Microsoft and IBM.
Analyst firm Gartner recently put Oracle in the Leaders quadrant for web access management.
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