Sun acquires MySQL

New Delhi: Sun Microsystems Inc. announced that it has entered into a definitive agreement to acquire MySQL AB, an open source icon and developer of open source databases for approximately $1 billion in total consideration. The acquisition accelerates Sun's position in enterprise IT to now include the $15 billion database market.

Jonathan Schwartz, CEO and president, Sun Microsystems, said, "Today's acquisition reaffirms Sun's position at the center of the global Web economy. 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. MySQL’s employees and culture, along with its near ubiquity across the Web, make it an ideal fit with Sun's open approach to network innovation. And 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."

Marten Mickos, CEO, MySQL, stated, "The combination of MySQL and Sun represents an enormous opportunity for users and organizations of all sizes seeking innovation, growth and choice. Sun's culture and business model complements MySQL's own by sharing the same ideals that we have had since our foundation—software freedom, online innovation and community and partner participation. We are tremendously excited to work with Sun and the millions of members of the MySQL open source ecosystem to continue to deliver the best database for powering the modern Web economy."

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 expected to close in late Q3 or early Q4 of Sun's fiscal 2008. Completion of the transaction is subject to regulatory approval and other customary closing conditions. The deal is expected to be accretive to FY10 operating income on a GAAP basis.

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MySQL