Finnish-Swedish software company MySQL sold for $1 billion to Sun Microsystems

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American software giant Sun Microsystems is to buy an open-source software maker MySQL founded by two Swedes and a Finn for up to USD 1 billion (EUR 700 million). The companies announced the deal on Wednesday evening.
      Sun will pay USD 800 million (more than EUR 500 million) in cash for MySQL. In addition, the MySQL owners will receive Sun options worth around USD 200 million.
     
MySQL has developed a freely downloadable open-source database software, which competes for users with such companies as Oracle and Microsoft. MySQL clients include Nokia, Google, YouTube, and Facebook.
      MySQL was founded in 1995 by two Swedes, David Axmark and Allan Larsson, and Finn Michael "Monty" Widenius. For the past six years the CEO of the company, now based in California’s Silicon Valley, has been Finn Mårten Mickos.
     
"Today's acquisition reaffirms Sun's position at the centre 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", explains Jonathan Schwartz, CEO and president of Sun Microsystems on the company’s website.
      Involvement with MySQL’s database technologies is expected to bring new markets for Sun's complimentary systems such as virtualization, middleware, and storage platforms.
      The sum paid is a record for any software company to come out of Finland, completely eclipsing the FIM 1.4 billion (the equivalent of EUR 230 million) paid out in 2000 for the mobile phone applications firm Iobox.
     
Those venture capitalists who invested in MySQL over the years since 2001 have now reaped a huge dividend for the roughly USD 39 million they injected into the company.
      The founders are believed to have retained a roughly 15% holding in the business. There had earlier been plans to list MySQL on the Nasdaq in New York.


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