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Backing Of EU On Oracle`s Takeover Of Sun

Technology news and updates blog article Backing Of EU On Oracle`s Takeover Of Sun

29th January 2010

The takeover of Sun by Oracle at $7.4 billion has been approved by the European Union. Sun is a fellow computer firm of Oracle. The competition commissioner of EU, Neelie Kroes has said that she had cleared the deal because it will help in preserving the competition and innovation. This decision has been taken after the EU had launched an investigation into the takeover in September 2009.

Oracle has been expecting to complete the deal, as soon as possible. The authorities of US have already supported this takeover. Oracle has also been expecting to get the backing from the competition authorities in China and Russia, very soon. Oracle is the world`s biggest database software maker and has been considered as the giant of software makers.

This deal is going to be one of the most beneficial not only for the firm, but also for the entire industry. It will help in the significant development in the software making market. Oracle first announced it had agreed a deal to buy Sun in April of last year. The reason, why all the authorities have agreed and supported the deal is the high expectations with the deal. Every one, in the industry will gain long-term benefits.






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