Sun snaps up MySQL for $1 billion

Sun snaps up MySQL for $1 billion

The acquisition strengthens Sun Microsystem’s position in the database market

Thursday, January 17, 2008

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SANTA CLARA, USA: Sun Microsystems Inc. has entered into a definitive agreement to acquire MySQL AB, a developer of open source databases, for $1 billion.

Sun said that the acquisition accelerates its position in enterprise IT to now include the $15 billion database market.

"Supporting our overall growth plan, acquiring MySQL amplifies our investments in the technologies demanded by those driving extreme growth and efficiency, from Internet media titans to the world's largest traditional enterprises," said Jonathan Schwartz, CEO and president, Sun Microsystems.

"Most importantly, this announcement boosts our investments into the communities at the heart of innovation on the Internet and of enterprises that rely on technology as a competitive weapon," he added.

Following completion of the transaction, MySQL will be integrated into Sun's Software, sales and services organizations and the company's CEO, Marten Mickos, will join Sun's senior executive leadership team.

In the interim, a joint team with representatives from both companies will develop integration plans that build upon the technical, product and cultural synergies and the best business and product development practices of both companies.

As part of the transaction, Sun will pay approximately $800 million in cash in exchange for all MySQL stock and assume approximately $200 million in options.

The transaction is likely to close in late Q3 or early Q4 of Sun's fiscal 2008. MySQL, headquartered in Cupertino (USA) and Uppsala (Sweden), has 400 employees in 25 countries.

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