Software maker Oracle Corp's $7.4 billion acquisition deal for Sun Microsystems Inc Thursday received the requisite approval of antitrust regulators at the US Department of Justice (DoJ), thereby bringing the proposed transaction a step closer to completion. However, the takeover still necessitates clearance by the European Commission (EC), which has to announce its decision by September 3.

The approval from DoJ comes after an extended antitrust appraisal of the agreement in June, as the department required more time to review one issue about the way rights to Java are licensed. Confirming that the department had finally closed its antitrust review, DoJ spokeswoman Gina Talamona said that no enforcement action had been taken.

According to Pacific Crest analyst Brendan Barnicle, the approval by DoJ, is an 'encouraging' sign for Oracle, with the Sun shareholders having already voted in favor of the deal on July 16.

About the pending EC approval, Barnicle remarked that though EC and DoJ "don't always see eye to eye, but they aren't usually that far apart."

Though the Redwood City, California-based Oracle - which makes software for large corporations - refused to comment beyond the confirmation of DoJ approval, it has earlier said that its takeover of the Santa Clara, California-based Sun, the maker of computer servers and the owner of the widely-used Java technology platform, would bring about a transformation in the information-technology industry!