Mergers and Acquistions News
Categories: Software
May 13th 2010, 14:03PM
Shortly after German-based software giant SAP confirmed to the Financial Times that the company is once again looking to make big-ticket acquisitions, a $5.8 billion (£3.9 billion) deal has been agreed under which it will acquire Sybase.
In a transaction that is expected to bring synergies across both firms' product lines and markets, SAP will purchase Californian enterprise software firm Sybase for $65 (£44) per share of outstanding stock.
The purchase price represents a 44 per cent premium over the three-month average stock price of Sybase and will benefit in particular the latter company's mobile platform and messaging network.
Sybase will continue to operate as a standalone unit, retaining its original management team.
"This transaction better positions SAP and Sybase to bring remarkable benefits of mobility and real-time information to our customers' existing technology investments," commented Vishal Sikka, chief technology officer of SAP.
It is SAP's biggest acquisition deal since it took over Business Objects in January 2008 for a purchase price of $6.1 billion (£4.1 billion).
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