Informix has announced its shareholders have approved the $US1 billion deal under which the struggling company plans to sell all the assets of its database business to IBM.
IBM agreed to buy the Informix Software database operations in the US earlier this year. The deal ended eight months of speculation about the fate of the Informix unit and is aimed at strengthening IBM's ability to compete with database market leader Oracle.
Informix said the sale is still expected to be completed during the third quarter. IBM plans to integrate Informix Software into its own database division and will continue to sell Informix's products through an integrated sales force, although IBM's own DB2 database will be the foundation for future product development.
Once the sale is completed, Informix said it will change its name to Ascential Software and focus on its line of information management applications that's currently managed separately from the database business. Informix split itself into the two independent units last September after being hit by weak sales and financial losses.