SAP announces takeover of Sybase

Posted: May 18, 2010 in Tech

Business software firm SAP has acquired mobile database software specialist Sybase in an all-cash deal worth $5.8bn, or $65 per share.

Sybase will keep trading under its own name as a ìstandalone unitî within the SAP group. Its management will remain in place and SAP has proposed that Sybase chairman and CEO John Chen join its executive board.

SAP said that the deal would help it accelerate the reach of its software across mobile platforms and ìunlock significant business valueî out of existing contracts through higher rates of adoption of the firmís technology.

As a result of the merger, SAP technology solutions will be more readily available across mobile platforms while Sybaseís products will be able to connect to a range of applications for mobile handsets.

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