Oracle To Buy Data Storage Co. Controlled By Ellison

Law360, New York (June 29, 2011, 1:03 PM EDT) -- Oracle Corp. said Wednesday it would buy Pillar Data Systems Inc., a privately held data storage company majority-owned by Oracle's own CEO, Larry Ellison.

Oracle will not pay any money up front for the company, structuring the acquisition as a "100 percent earnout" deal, meaning the tech giant will only make payments to Ellison and other stockholders if Pillar meets a set of financial targets, according to the companies.

Oracle doesn't expect the acquisition to have an impact on its operation or financial position, but the...
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