SAP, the world’s largest enterprise software maker, has agreed to buy US rival Sybase in a deal worth $5.8bn, its biggest acquisition in almost three years. The German software group will pay $65 per share in cash for Sybase, SAP said in a statement on Wednesday evening. That represents a 44 per cent premium to the three-month average stock price of the fourth-largest provider of database software. The move extends the rivalry between SAP and US rival Oracle, where Oracle has been the leading database company but is number two to SAP in business management software. Bill McDermott, SAP’s co-chief executive, said the company would benefit hugely from Sybase’s database and mobile application technology.
We see a great potential in combining the leader in enterprise software with the leader in mobility, Mr McDermott said. The deal marks a fast foray into dealmaking by Mr McDermott and Jim Hagemann Snabe, SAP’s co-chief executives.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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