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SAP SYBASE DEAL CLEARS HURDLE
The European Commission has approved the acquisition of Sybase by SAP, which was the final regulatory approval needed for the deal to proceed. SAP is offering $65 per share cash for a total purchase of about $5.8 billion via a tender offer. The deal would give ownership of Sybase’s SQL Anywhere, PowerBuilder and a very far reaching mobile technology and messaging network. Besides its financial applications, SAP also owns business intelligence powerhouse BusinessObjects. Sybase had net income of $164 million and $1.2 billion in revenue for the year ended Dec. 31, 2009.
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