Oracle completes Sun buyout

Well, that's it—Sun Microsystems is no more. As the Associated Press reports, Oracle has completed its acquisition of the software and server maker, taking ownership in exchange for a $7.4 billion cash payment.

Oracle says here it plans to spend more on SPARC, Solaris, and MySQL development than Sun; optimize Oracle software for Sun hardware; and more than double the number of "hardware specialists selling and servicing SPARC/Solaris systems."

Oracle and Sun shook hands on the acquisition deal way back in April 2009, but the European Commission threw a wrench in the works last November, kicking off an investigation into the possible antitrust implications of the deal. The Commission said it feared bringing the world's biggest commercial and open-source databases (Oracle and MySQL, respectively) under a single entity's control might raise prices and harm competition.

The European Commission did a complete 180 and finally greenlit the deal last week. EU Competition Commissioner Neelie Kroes stated, "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 revitalise important assets and create new and innovative products." Oracle subsequently said it was still awaiting approval from regulators in China and Russia, but that apparently didn't take long.

Interested folks can watch a live webcast of Oracle's post-merger "strategy update" starting at 9:00 AM Pacific time today.

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