Sybase acquired by SAP

Enterprise software giant SAP is acquiring fellow business software company Sybase for $5.8 billion in an all-cash offer. SAP is reportedly buying Sybase in an effort to compete with Oracle, which grew its business when it bought Sun Microsystems last year for $7.4 billion. The transaction is expected to close during the third quarter of 2010. Sybase competes with Oracle in providing data software to businesses. Last year, Sybase and SAP announced a partnership to connect SAP’s enterprise software with Sybase’s mobile platform.