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Sybase Signs Definitive Agreement to Acquire Mobile 365

Sybase has announced that it has signed a definitive agreement to acquire Mobile 365, in an all cash transaction. The purchase price set forth in the definitive agreement is USD 425 million, which is subject to adjustment based on Mobile 365’s working capital as of the closing date. The transaction is expected to close in the fourth quarter of 2006, subject to regulatory approvals and other specified closing conditions.

“This acquisition extends our Unwired Enterprise vision with the addition of two new enterprise channels — wireless carriers and content providers,” said John Chen, Sybase chairman, CEO and president. “The mobile messaging market in the U.S. alone is expected to grow to USD 7.5 billion by 2008. Getting closer to this exploding mobile market through carriers is a key extension of our Unwired Enterprise strategy. Mobile 365 brings unparalleled breadth and depth of carrier relationships and the largest mobile messaging and content delivery platform, solidly positioning Sybase between carriers, global brands and mobile content.”

“Given Sybase’s leadership in enterprise mobility, this acquisition is a perfect fit. With Mobile 365’s technology, Sybase can now deliver any mobile message or application to any handset—anytime, anywhere,” said Mike Daniels, Mobile 365 executive chairman. “We are pleased to provide Sybase an extensive carrier channel with connections into approximately 700 operators, a portfolio of financial, media and entertainment customers, and new opportunities to leverage its AvantGo and mFolio services as well as its data analytics capabilities to meet customer demand for more robust analytics of wireless data traffic.”

Following the closing of the transaction, Mobile 365 will operate as Sybase Mobile 365, a wholly owned subsidiary. Marty Beard, Sybase’s senior vice president of corporate development and marketing, who will be named president of Sybase Mobile 365, will lead the new subsidiary. “Through our combined footprint, products, operator-grade network, and content and application delivery infrastructure, the acquisition of Mobile 365 extends our reach into mobile enterprise customers worldwide by augmenting our current direct and indirect channels with an extensive carrier channel and robust ASP delivery platform,” said Beard.


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