Enterprise software company SAP is spending an impressive $5.8 billion to make sure it has an app for that.
The German-based company, which makes customer-relationship and expense management software, said today in a release that it is acquiring Sybase to “enable companies to become better-run ‘unwired enterprises’.” SAP will tap into Sybase’s expertise, which includes mobile messaging and marketing, to connect all SAP applications and data and enable them on mobile devices.
While our site typically focuses on media-related moves in the mobile industry, billion-dollar exits in mobile don’t happen very often, and therefore, are worth noting whenever they happen.
SAP said it offered $65 a share in cash for the company, which represents a 44 percent premium compared to Sybase’s three-month average stock price. The transaction will be funded with cash on and a