MUMBAI: Sybase, Inc. a provider of enterprise infrastructure and mobile software has announced its completion of the acquisition of Mobile 365, Inc. in an all-cash transaction valued at $417 million. Net of acquired cash, the transaction is valued at $397 million.
Mobile 365 will now operate as Sybase 365, a wholly-owned subsidiary. Sybase Inc. senior vice president corporate development and marketing Marty Beard will lead the new subsidiary as president, asserts an official release.
The Sybase mFolio business will be integrated into Sybase 365 immediately, and certain assets of Sybase AvantGo will be integrated into Sybase 365 early in 2007, adds the release.
Sybase chairman, CEO and president John Chen said, “Built on unique intellectual property and a comprehensive global network, Sybase 365 provides the messaging infrastructure-of-choice for interoperability and content delivery. With this acquisition, we expand our unwired enterprise offerings and our ability to deliver information anytime, anywhere, to any type of device.”
Through its network of approximately 700 mobile operators, including Verizon Wireless, Vodafone, T-Mobile, Cingular, Telefonica and China Mobile, Sybase 365 will continue to focus on enabling the content providers and global brands, such as Citibank, Yahoo!, AOL, MSN and Twentieth Century Fox to mobilise their content and applications.
Verizon Wireless vice president wireless internet and multimedia services Jim Straight said, “As we approach the fifth anniversary of Mobile 365 launching carrier services here in the U.S., i’m pleased they have found a corporate parent who brings additional resources and opportunities to the market and that Mobile 365 will continue to serve us as they have in the past.”
“The acquisition solidly positions Sybase between mobile operators, content providers, and global brands-further extending our worldwide leadership in enterprise mobility,” said Beard.
