Venture-backed MySQL sold for whopping $1bn to SUN

Benchmark Capital has led a group of investors that have realised their investments in MySQL AB through a $1bn sale of the company to SUN Microsystems. The deal involves $800m received in cash and $200m paid by the acquirer's options. Other investors were Index Ventures, Scope Capital, SAP Ventures, Institutional Venture Partners, Intel Capital, Red Hat and Presidio STX.

MySQL was preparing to be listed on NASDAQ in the first quarter of 2008, but since the business announced the IPO plans, it had been approached by a number of industrial buyers wanting to acquire the business. American SUN Microsystems offered the best alternative of a combination of solid price and good strategic fit between the two businesses. MySQL had also received an offer from Oracle in 2006 but rejected it.

Despite public perception, Venture performance in Europe has been on the up, according to CEPRES (see graph). The plateau the Nordic market has experienced lags Europe, although MySQL is not yet part of the data. (Page 24).

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