Archive for July, 2010

SAP acquires Sybase

Friday, July 30th, 2010

Jul 30, 2010 (Datamonitor Financial Deals Tracker via COMTEX) —
SAP AG, a Germany-based provider of enterprise software solutions, has acquired all outstanding shares of common stock in Sybase, Inc.

Sybase is a US-based provider of database management software systems and mobile software to manage, analyze and mobilize information.

Update on July 26, 2010:

SAP, through its wholly-owned subsidiary Sheffield Acquisition Corp., has completed its cash tender offer to acquire all outstanding shares of common stock in Sybase.

A total of 80,929,717 shares of common stock of Sybase had been tendered into and not properly withdrawn from the tender offer (including 9,293,901 shares of common stock tendered pursuant to the guaranteed delivery procedures). These shares represent approximately 92.1% percent of Sybase’s outstanding shares of common stock.

SAP intends to effect a short-form merger under Delaware law as promptly as practicable, without the need for a meeting of Sybase stockholders. As a result of the merger, the remaining Sybase stockholders (other than those who properly exercise appraisal rights under Delaware law) will receive the same $65 per share price, without interest and subject to any required withholding of taxes, that was paid in the tender offer. After the merger, Sybase will be a wholly owned subsidiary of SAP America, and Sybase shares will cease to be traded on the NYSE. (more…)

Spar Group to form new joint venture with Shanghai Wedone Marketing Consulting

Thursday, July 29th, 2010

Spar Group, a supplier of retail merchandising and other marketing services, has announced the structuring of a new joint venture in China with its new partner Shanghai Wedone Marketing Consulting.
Shanghai Wedone Marketing Consulting is a comprehensive marketing management company that provides brand communication and retail marketing management service in China.

The new joint venture will provide merchandising and marketing services and have national market presence in the country.

The new joint venture will be called SPAR (Shanghai) Marketing Management Company. Spar will own 51% of the joint venture while Shanghai Wedone Marketing Consulting will own 49% in accordance with the laws of China. The new company will provide merchandising and related marketing services to manufacturers and retailers throughout China. (more…)

Profit Growth Poses New Challenges for Asset Managers

Wednesday, July 21st, 2010

Cutting costs can be quick and easy, but it isn’t a guarantee that you can grow profitability, according to a new report by Boston Consulting Group. Asset managers that BCG tracked in 34 major markets around the world for its study, “In Search of Stable Growth: Global Asset Management 2010,” were able to reduce expenses last year by an average of 7 percent. Yet operating margins were off by 19 percent and net revenues fell by 11 percent. In tough times, the gap between top performers and those further down the scale widens, Boston Consulting Senior Partner Monish Kumar said today at a press program in New York City to discuss the results. The top 20 percent of managers produced 88 percent of net sales last year, while holding just 23 percent of AUM, the report said.

The good news: “As an industry overall, asset management remains an incredibly attractive space,” said Brent S. Beardsley, BCG partner and managing director. Operating margins, boosted by better product mix and higher AUM, were forecast for 31 to 35 percent for this year; it’s not as good as the historic peak of 40 percent back in 2006 but far better than many other businesses.

There’s still plenty of work ahead for asset managers. The report measured the value of professionally managed assets in 2009 at $52.6 trillion, up 12 percent, but only about 1 percent resulted from new net inflows. The playing field is changing. (more…)

Hewitt to buy consulting company EnnisKnupp

Wednesday, July 21st, 2010

Lincolnshire-based Hewitt Associates, a global human resources consulting and outsourcing company, Tuesday said it entered into an agreement to acquire EnnisKnupp, a provider of investment advisory services to large institutional investors.

This acquisition will boost Hewitt’s existing investment consulting capabilities in the United States and support its global growth plans. EnnisKnupp provides investment consulting services to corporations, public funds, endowments, foundations and non-for-profits.

Once this transaction is complete, Hewitt will be one of the largest providers of investment consulting services globally with nearly $3 trillion in assets under advisement.

Financial terms were not disclosed. The transaction is subject to regulatory approval and is expected to close later this year.

Aon To Buy Hewitt For $4.9 Billion To Expand Consulting Business

Monday, July 12th, 2010

Insurance broker Aon Corp. announced its acquisition of human-resources consulting and outsourcing company Hewitt Associates Inc. for $4.9 billion in cash and stock to expand its consulting business.

Aon will pay $50 per Hewitt share, representing a 41 percent premium to Hewitt’s closing stock price of $35.40 on Friday.

Aon plans to integrate Hewitt with its existing consulting and outsourcing operations and operate the segment under the newly created Aon Hewitt brand, the company said.

“This merger will give us a broader portfolio of innovative products and services focused on what we believe are two of the most important topics in the global economy today – risk and people,” Aon chief executive Greg Case said on Monday. (more…)