EU Clears Germany's SAP To Buy U.S. Software Vendor Sybase
20 Juillet 2010 - 6:29PM
Dow Jones News
The European Commission Tuesday cleared German business software
company SAP (SAP) to buy U.S. software vendor Sybase (SY).
The deal is SAP's largest since its 2007 $6.8 billion buy of
Business Objects SA. It comes as the company attempts to keep pace
with competitor Oracle Corp. (ORCL) in the business software
market.
The two companies agreed last year to a deal in which Sybase
builds all mobile applications for SAP. In March, SAP released an
application for mobile workers to respond to alerts and complete
certain tasks through an email inbox.
Under the terms of the deal, SAP will pay $65 per Sybase share,
for a total of $5.8 billion. The company took out a EUR2.75 billion
loan from Deutsche Bank (DB) and Barclays Capital (BCS) to finance
the acquisition, said people familiar with the deal in May.
-By David Tidmarsh, Dow Jones Newswires; +32 (0)2 741 1 489;
david.tidmarsh@dowjones.com
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