SAP-Sybase deal wins EU approval
- 21 July, 2010 06:20
SAP said Tuesday that the European Commission has approved its pending acquisition of Sybase.
The approval satisfies the last remaining regulatory hurdle for the roughly US$6 billion deal, from which SAP will gain a range of database and mobile technologies.
Meanwhile, in a filing with the U.S. Securities and Exchange Commission earlier this week, SAP said it had reached an agreement on the principal terms of a settlement with a number of shareholders who had filed class action suits to block the sale.
First announced in May, the Sybase acquisition has moved along much more quickly than SAP rival Oracle's purchase of Sun Microsystems, which was finalized earlier this year.
European regulators subjected the Sun deal to protracted scrutiny following concerns over the fate of open-source technologies like the MySQL database under Oracle.
Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris's e-mail address is Chris_Kanaracus@idg.com