SAP subsidiary, SAP America, has signed what it calls a "game-changing" merger agreement to acquire Sybase.
The transaction is said to bring two information technology firms together to enable companies to become better-run “unwired enterprises”. Customers will benefit from greater productivity, speed and agility to help their businesses grow, says the new entity.
Under the terms and conditions of the merger, SAP America will make an all cash tender offer for all of the outstanding shares of Sybase, representing an enterprise value of approximately $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,” he added.
Sybase will operate as a standalone unit under the name 'Sybase, an SAP Company'.
SAP New Zealand recently made three new appointments to its operations based in Auckland and Wellington.