SWEDEN - Venture-backed MySQL sold to Sun Microsystems for $1bn

The deal is a mainly a pure cash transaction, but also a minor proportion will be paid by Sun Microsystem options. The specifics of the deal will be presented later today by MySQL CEO Mårten Mickos and Sun Microsystem’s CEO Jonathan Schwartz.

MySQL was preparing to list on NASDAQ earlier this year. At the time it was assumed that based on its sector growth rate, capital history and profitability, it would be ready for an IPO. MySQL received an offer from Oracle in 2006 but rejected it.

Since its first venture capital investment in 2002, Benchmark Capital, Index Ventures, Scope Capital, SAP Ventures, Institutional Venture Partners, Intel Capital, Red Hat and Presidio STX have all participated in various rounds of financing. In total, the business had secured more than $39m in financing. The three founders Allan Larsson, David Axmark and Michael Widenius are among the largest owners of the business, together with its 350 employees, who hold options corresponding to 12.5% of shares.

Uppsala-based MySQL, is a developer and supporter of open-sourced database products. It is anticipated that it has had more than 100 million copies of its software downloaded.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Nordics
• Technology