After over three months of investigation the European Commission (EC) has officially approved Oracle’s $7.4 billion acquisition of Sun Microsystems which could see the combined company significantly change the competitive landscape of the IT industry.
“I am now satisfied that competition and innovation will be preserved on all the markets concerned. Oracle’s acquisition of Sun has the potential to revitalize important assets and create new and innovative products,” said Neelie Kroes, the European antitrust commissioner, said in a prepared statement.
Oracle’s proposed acquisition of Sun took almost nine months to the day to gain approval by both the U.S. Department of Justice and the EC, with the latter’s investigation dragging on for over three months.
Go to this article to learn more details about the EC’s approval of the Oracle-Sun deal.