It has been confirmed that Sybase Inc, has been sold to SAP – one of the world’s biggest makers of business-management software, for around $5.8 Billion (U.S).
As reported from Business Week, SAP’s aquisition of Sybase is seen as a key ingredient in helping them fend off rival competition from Oracle. As part of the deal, Sybase shareholders will receive $65 a share, which is 56 percent higher than the closing price of $41.57 – as of yesterday.
Analysts have already commented on the buyout saying that it makes sense for SAP, as Ray Wang, an analyst at the Altimeter Group had this to say on the matter:
“This acquisition is a technology play, and Sybase has three of the most innovative technologies required for the next decade.”
How will Oracle respond to the sale of Sybase? Give us your thoughts on this. Full story over at Business Week.