Sybase News & Articles

With Oracle and SAP pitted against each other and Oracle turning in some impressive results for Q3 in September, everyone was waiting to see what SAP’s figures would produce. The figures show a profit after tax of US$ 697 million (€501 million), up 12% from Q3 last year, along with a few noteworthy comments.

For those that were wondering how long it would take SAP to put the screws on Sybase after the US$ 5.8 billion deal was closed in May, well the answer is immediately.

While there have been a number of financial results releases over the past couple of weeks, one of the more interesting is from SAP (news, site),  not only because its software business is often used as a market indicator, but also because of the recent closure of the massive Sybase deal.

The acquisition of Sybase (news, site) by SAP (news, site) which was first announced in May, has passed the final hurdle after the European Commission gave it regulatory approval on Tuesday evening.

With the deadline for the deal fast approaching, the German software giant extended its offer deadline for its US$ 5.8 billion cash offer for Sybase shares pending approval. With EU approval now in the bag, the deal is due to finally close next Monday.

In a move that is likely to cause Oracle (news, site) some discomfort, SAP (news, site) has announced that it has agreed to acquire Sybase for US$ 5.8 billion and in doing so extend its reach into the mobile business application market.