Sybase chief sees SAP deal closing despite Hewlett-Packard gossip

by Scott Wallask

May 24, 2010

By Scott Wallask, Insider Learning Network,

In an interview last week on CNBC, Sybase, Inc., CEO John Chen said he expects SAP’s bid to acquire Sybase to go through even if other companies are potentially interested in counter-offers.

“This is a very good price for shareholders,” Chen said of the $5.8 billion price tag that SAP has agreed to purchase Sybase for.

A Sybase shareholder has filed suit to block the merger, arguing the $65 per share price is too low, reported the Wall Street Journal. Such legal moves are not unusual during mergers.

The Journal and CNBC both noted rumors point to Hewlett-Packard’s continued interest in Sybase.

Sybase announced last week the introduction of the computing industry’s first enterprise mobility platform, which offers customers mobile servers, applications, and other services. An SAP CRM mobile sales application for is part of the package.

“We’re going to change the computing paradigm using mobility going forward,” Chen told CNBC. “SAP sees that, and SAP wants mobility in applications, and the application world is evolving.”

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