We’ve almost missed this. It’s not exactly the pure mobile news but it is definitely related.
German software giant SAP is acquiring Sybase for $5.8 billion in a move that will significantly ramp up its presence in the mobile space. During the years, California-based Sybase has been working hard to make sure its business software runs on smartphones and other mobile devices, and that apparently is the technology SAP wants in its portfolio as well — though one wonders why on Earth they haven’t been developing such a technology for themselves.
Commenting on the company’s plan, SAP’s co-CEO Jim Hagemann Snabe, said: “We want to make sure SAP solutions can be accessed from all leading mobile devices. The acquisition of Sybase will allow us and our partners to do just that.”
SAP has agreed to pay $65 per share in cash for Sybase, which is a 56% premium to Sybase’s Tuesday closing price on the New York Stock Exchange. The acquisition is set to close in the third quarter and it would be the second-largest in SAP’s nearly 40-year history.
[Via: MobileBusinessBriefing]