Shares of Sybase Inc. (SY), a co. that provides enterprise and mobile software solutions, surged more than 50% after Bloomberg TV reported that SAP AG (SAP), the world’s biggest maker of business-management software, is close to acquiring the company for $6 billion.
Bloomberg noted that the deal could be announced as early as today or it could fall apart.
Sybase reported a net income of $39.9 million for the quarter ended March 31, 2010, compared to $28.1 million for the same period last year. For the quarter the co. said its operating income was $74.1 million. Meanwhile, operating margin printed at 25% compared to a 21% operating margin for the same period in 2009.
Sybase shares soared more than $20 on the acquisition news, printing $66.00/hod in New York Stock Exchange trading.
Update: SAP AG has agreed to acquire Sybase in all cash tender offer for $65 per share. The transaction is expected to close in Q3 2010.