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| US approves $7.4 bn Oracle-Sun deal |
| Press Trust of India / New York Aug 21, 2009, 18:45 IST |
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Software major Oracle has received green signal from the US Department of Justice for the proposed $7.4 billion-acquisition of hardware company Sun Microsystems.
The deal announced in April, was approved by the shareholders of Sun Microsystems last month.
"The US Department of Justice has approved Oracle's proposed acquisition of Sun Microsystems...," the software entity said in a statement on Thursday.
Once the transaction is complete, Oracle would have control over Java, a commonly used programming language of Sun Microsystems.
According to Oracle, the deal is yet to receive go ahead from the European Commission.
As per the planned transaction, Oracle has agreed to buy Sun Microsystems for $7.4 billion or $9.50 a share, in cash and the deal would push the software company into high-end computing system.
"Closing of the transaction is subject to certain conditions, including clearance by the European Commission," the statement said.
Oracle has more than 80,000 employees worldwide while Sun Microsystems' workforce is over 30,000 people. Further, both companies have significant presence in India.
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