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01 Sep 2009
Sun Microsystems has posted a quarterly loss as its formal takeover by Oracle nears completion.
The company lost $147m (£90m) over the past financial quarter, amid falling revenues. The company estimated revenue over the period at $2.6bn (£1.6bn), compared to the previous year's $3.8bn (£2.3bn).
The losses come as Sun enters the final stages of its acquisition by Oracle. The database giant agreed to buy Sun in April for £5.1bn following a heated battle with IBM.
The proposed buyout was approved by Sun shareholders in July, and the deal was given the green light by US anti-trust authorities in August.
Oracle and Sun are still awaiting a final decision on the deal from the European Union before finalising the merger.
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