SAP reportedly buying Sybase for $6 billion
- 13 May, 2010 05:56
SAP is nearing a deal to buy mobile and database vendor Sybase for roughly US$6 billion, Bloomberg reported on Wednesday, citing two individuals with knowledge of the company's plans.
The merger could be announced later Wednesday, but may also fail to be completed, the report added.
The rumored acquisition sent shares of Sybase stock rocketing up about 41 percent to $58.86 in late trading.
If consummated, such a deal would significantly expand the technological footprint of SAP, which is known most of all for its ERP (enterprise resource planning) applications.
SAP and Sybase could not immediately be reached for comment Wednesday.