Back in September we heard that the European Union were investigating Oracle’s proposed takeover of Sun Microsystems, we have now heard that the EU have granted Oracle ‘unconditional approval’.
Currently Oracle are the world’s No. 2 business software maker and are looking to impact the hardware market, as Sun are currently the top player in the high-end computer-server market the takeover will be huge for Oracle.
The deal itself is said to be worth $7 billion, an EU Competition Commissioner released this statement “Oracle’s acquisition of Sun has the potential to revitalise important assets and create new and innovative products.”
If you would like to find out more about the EU’s recent approval check out Reuters.