Oracle Corporation has cleared a major hurdle in its quest to acquire Sun Microsystems. The firm has received regulatory approval from the European Commission for the move to take over the California-based operation. Expecting further unconditional approval from China and Russia, Oracle expects to close the transaction shortly.
Oracle will host an all-day live event for customers, partners, press and analysts on January 27th, 2010 at 9:00 AM Pacific time, at its headquarters in Redwood Shores, California.
BusinessWeek has announced that Sun is set to be replaced on the S&P 500 in advance of the Oracle purchase.