Oracle gearing up for Sun takeover
$7.4b deal set to go through as regulators clear acquisition plan
London: Oracle's $7.4 billion (Dh27 billion) takeover of software rival Sun Microsystems looks set to go through after European regulators finally gave their approval to the deal.
Nine months after the surprise acquisition was announced, EU competition commissioner Neelie Kroes has said she is satisfied that the deal holds no potential danger to the software market.
"I am now satisfied that competition and innovation will be preserved on all the markets concerned," she said in a statement.
"Oracle's acquisition of Sun has the potential to revitalise important assets and create new and innovative products."
The deal, first announced in April last year, will see the world's second largest software company take control of its smaller rival. In the process, Oracle will gain access to a suite of products.
