SAP, a multinational software development and consulting corporation, said it has signed a definitive agreement to acquire Sybase for an all cash tender offer for all of the outstanding shares of Sybase common stock at $65 per share. The deal represents an enterprise value of about $5.8 billion.
"With this transaction, SAP will dramatically expand its addressable market by making available its market-leading solutions to hundreds of millions of mobile users, combining the world’s best business software with the world’s most powerful mobile infrastructure platform," said Bill McDermott, co-CEO of SAP and member of the SAP Executive Board. "This is a game-changing transaction for SAP and Sybase customers, who will be better able to connect their employees with key functionality and information from anywhere and make it easier for companies to make faster, more informed business decisions in real time. With SAP’s customer-centric approach, we are resolute in our commitment to support Sybase customers to be best-run businesses."
SAP said the deal will allow it to accelerate the reach of its solutions across mobile platforms, while its own in-memory technology would boost the capabilities of Sybase's data platform. SAP also said it will continue to support each organization's product roadmap.