Summary Box: SAP buying Sybase for $5.8B in battle with OracleBy AP
Thursday, May 13, 2010
Summary Box: SAP buying Sybase for $5.8B
SOFTWARE SNAP-UP: German business software maker SAP AG is buying Sybase Inc. for $5.8 billion. Sybase makes database software and technology that connects business applications to mobile phones.
ATTACKING ORACLE: SAP is muscling in to more of Oracle Corp.’s database turf with the deal. Oracle has spent $40 billion since 2004 on acquisitions, mostly to buy its way into markets where SAP is strong.
BIG MOVE FOR NEW BOSSES: The acquisition is the first big move by SAP’s new co-CEOs Bill McDermott and Jim Hagemann Snabe, who took over in February after the previous CEO resigned.