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Acquisition of Sun Microsystems by Oracle Corporation
The acquisition of Sun Microsystems by Oracle Corporation was completed on January 27, 2010. After the acquisition was completed, Oracle, only a software vendor prior to the merger, owned Sun's hardware product lines, such as SPARC Enterprise, as well as Sun's software product lines, including the Java programming language.
Concerns about Sun's position as a competitor to Oracle were raised by antitrust regulators, open source advocates, customers, and employees over the acquisition. The European Commission delayed the acquisition for several months over questions about Oracle's plans for MySQL, Sun's competitor to Oracle Database. The DG COMP of the European Commission finally approved the takeover, apparently pressured by the U.S. DOJ Antitrust Division to do so, according to a diplomatic cable leaked in September 2011.
In 2006, it was disclosed that Sun and Apple have discussed a merger on multiple occasions.
In late 2008, Sun was approached by IBM to discuss a possible merger. At about the same time, Sun also began discussions with another company, widely rumored but not confirmed to be Hewlett-Packard, about a potential acquisition. By March 2009, talks had stalled between Sun and both IBM and the other potential suitor.
On April 20, 2009, Sun and Oracle announced that they had entered into a definitive agreement under which Oracle would acquire Sun for $9.50 a share in cash. Net of Sun's cash and debt, this amounted to a $5.6 billion offer from Oracle. Sun's shareholders voted to approve the proposal on July 16, 2009, although the deal was still subject to regulatory approvals. The terms of the agreement between Oracle and Sun included dependencies on the antitrust laws of "the United States and Canada, European Union, China, Israel, Switzerland, Russia, Australia, Turkey, Korea, Japan, Mexico and South Africa".
On August 20, 2009, the U.S. government, pursuant to the Clayton Antitrust Act, approved Oracle's purchase of Sun.
On September 3, 2009, the European Commission announced that it would not immediately approve the deal, but would instead perform a second round of investigation, focusing on the implications of Oracle's control of MySQL (acquired by Sun in 2008).
On October 20, 2009, Sun filed with the U.S. Securities and Exchange Commission (SEC) its intention to cut 3,000 jobs globally over next 12 months, citing losses caused by delays in the acquisition process.
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Acquisition of Sun Microsystems by Oracle Corporation
The acquisition of Sun Microsystems by Oracle Corporation was completed on January 27, 2010. After the acquisition was completed, Oracle, only a software vendor prior to the merger, owned Sun's hardware product lines, such as SPARC Enterprise, as well as Sun's software product lines, including the Java programming language.
Concerns about Sun's position as a competitor to Oracle were raised by antitrust regulators, open source advocates, customers, and employees over the acquisition. The European Commission delayed the acquisition for several months over questions about Oracle's plans for MySQL, Sun's competitor to Oracle Database. The DG COMP of the European Commission finally approved the takeover, apparently pressured by the U.S. DOJ Antitrust Division to do so, according to a diplomatic cable leaked in September 2011.
In 2006, it was disclosed that Sun and Apple have discussed a merger on multiple occasions.
In late 2008, Sun was approached by IBM to discuss a possible merger. At about the same time, Sun also began discussions with another company, widely rumored but not confirmed to be Hewlett-Packard, about a potential acquisition. By March 2009, talks had stalled between Sun and both IBM and the other potential suitor.
On April 20, 2009, Sun and Oracle announced that they had entered into a definitive agreement under which Oracle would acquire Sun for $9.50 a share in cash. Net of Sun's cash and debt, this amounted to a $5.6 billion offer from Oracle. Sun's shareholders voted to approve the proposal on July 16, 2009, although the deal was still subject to regulatory approvals. The terms of the agreement between Oracle and Sun included dependencies on the antitrust laws of "the United States and Canada, European Union, China, Israel, Switzerland, Russia, Australia, Turkey, Korea, Japan, Mexico and South Africa".
On August 20, 2009, the U.S. government, pursuant to the Clayton Antitrust Act, approved Oracle's purchase of Sun.
On September 3, 2009, the European Commission announced that it would not immediately approve the deal, but would instead perform a second round of investigation, focusing on the implications of Oracle's control of MySQL (acquired by Sun in 2008).
On October 20, 2009, Sun filed with the U.S. Securities and Exchange Commission (SEC) its intention to cut 3,000 jobs globally over next 12 months, citing losses caused by delays in the acquisition process.