Wednesday, May 12, 2010

Sybase Acquired By SAP

SAP said Wednesday afternoon that it has acquired Dublin, California-based Sybase, in a deal worth approximately $5.8 billion. SAP said it would pay $65.00 per share in cash for Sybase, or approximately a 44 percent premium over the three-month average stock price of Sybase. The firm said that Sybase will operate as a standalone unit under the name "Sybase, an SAP Company" with its existing management team.