Germany's SAP, which makes ERP (enterprise resource planning) software, has bought US-based database maker Sybase in a $US5.8 billion deal.Sybase competes head-to-head with Oracle.SAP said that Sybase would for the time being continue to operate as a stan
Germany’s SAP, which makes ERP (enterprise resource planning) software, has bought US-based database maker Sybase in a $US5.8 billion deal.
Sybase competes head-to-head with Oracle.
SAP said that Sybase would for the time being continue to operate as a standalone company (billed as Sybase, an SAP company) and maintain its existing management.
The German-based global software giant paid $US65 a share for Sybase, a 44% premium on the market (and not quite enough for some speculators, as Sybase stock [NYSE: SY] rose up to 58% on Bloomberg rumours earlier in the day, before falling back to close with a 35% gain ahead of the official announcement.)
Sybase is SAP’s second major acquisition in recent times. In 2007, the German company bought US business intelligence software maker Business Objects for $US6.8 billion.
In a statement, SAP said Sybase's strength in mobile applications was a key reason for the deal.
SAP has a New Zealand subsidiary, headquartered in Auckland. Sybase Australia-New Zealand is managed from across the Tasman, but maintains an office in Wellington.
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