If you remember back in October, Oracle launched a huge lawsuit against Google, claiming that the Android OS was lifting code produced by them. While Google has disagreed with that fact, a little investigation by a blogger does reveal that Oracle was right after all.
The European Union has given its approval to Orcale’s purchase of Sun Microsystems, the owners of several technologies like MySQL and Java, after finalising its investigation that was opened in September of last year.
The European Commission has opened an antitrust investigation into software maker Oracle and its planned purchase of Sun Microsystems, as the commission says it has serious worries about the deal that could see higher prices and limited choice for database software.
In a blow to a rumoured deal with IBM, Sun Microsystems has announced that Oracle has agreed to buy the Java and MySQL owner for US$7.4 billion, or US$9.50 per share – a 10 cent increase to what IBM was bidding for, in a shocking announcement that managed to send Sun’s share up by nearly 37 percent.
It has been reported and confirmed on a number of news and tech sites that the software giant Sun Micro will be bought out Oracle for $9.50USD a share, equaling an approximate $5.6 Billion USD (Net) deal to be closed at the end of August.
IBM backed out of a deal earlier this year which prompted the way for Oracle to take advantage of the falling apart. It is believed that this buyout will add 15 cents a share to Oracle’s share stock and price.
Shareholders will be watching Sun and IBM shares very carefully now when the markets open tomorrow (in the US), as merger talks between the two companies have been called off; according to sources talking to both the Wall Street Journal and the New York Times.
IBM and Sun are said to be nearing a possible merger, with discussions that IBM will pay US$9.55 a share – $1 less than what Sun previously expected and a revised value at US$7 billion – in return that IBM will fight for the deal even if the regulators object to the plan, according to the Wall Street Journal.
The leader of the open-source database group, MySQL, has announced his resignation from Sun Microsystems, and has said that he will be leaving the company at the end of March. The MySQL database group is one of the fastest-growing businesses at Sun.