(BRUSSELS) - The European Commission approved on Tuesday US business software giant Oracle Corp's takeover of US rival BEA Systems Inc.

"The commission concluded that the transaction would not significantly impede effective competition," Europe's top antitrust watchdog said in a statement.

After a long battle over the price tag, Oracle announced plans in mid-January to acquire rival BEA Systems for 8.5 billion dollars (5.5 billion euros).

US regulators approved the deal in February.

Text and Picture Copyright 2008 AFP. All other Copyright 2008 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.