SAP announced yesterday that it will acquire venerable database company Sybase to bolster its mobile development practice. The deal is valued at approximately US.8 billion in cash.
Sybase's board of directors unanimously approved the transaction, which is a 44% premium over its three-month average stock price of about per share. The transaction will close in the third quarter. The agreement was signed by SAP's American subsidiary and underwritten by Barclays Capital and Deutsche Bank. Read More