"Q: Isn't that valuation a bit high? What was
the multiple? A: Given that MySQL was a private company, actual
revenue figures were consigned to the realm of speculation. One
analyst on this morning's call estimated $60-80M, which obviously
puts the acquisition multiple up there. I heard a lot of folks
questioning the valuation this morning, and I'm sure that more will
in the days ahead. My guess is that the acquisition price was as
much a function of the potential returns of a public offering as it
was the current revenue picture, but that's all it is: a guess. All
of that said, understand that I am not a capital markets expert,
and my coverage doesn't extend to that arena. Like Tim, I still
find it counterintuitive--on a superficial level, anyhow--that it
cost Oracle better than eight times that to acquire BEA..."
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