Posts Tagged ‘database’

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A total of 80,929,717 shares of common stock of Sybase had been tendered into and not properly withdrawn from the tender offer (including 9,293,901 shares of common stock tendered pursuant to the guaranteed delivery procedures).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…)