Enterprise infrastructure and integration company Sybase has signed an agreement to acquire AvantGo, a provider of mobile enterprise software, in a cash merger valued at $38 million. Sybase intends to operate AvantGo under its iAnywhere Solutions subsidiary. The acquisition is expected to be completed during the first quarter of 2003. The acquisition of AvantGo boosts iAnywhere's dominance of the mobile middleware market by combining both companies' market presence and award-winning technologies.
It also expands iAnywhere's reach into new wireless opportunities with the addition of AvantGo's offline Web capabilities and My AvantGo service to the company's portfolio. With AvantGo, iAnywhere will be able to offer an end-to-end m-business platform that addresses enterprise mobility of Web content, corporate data and applications.
"This acquisition teams the common vision and technologies of two m-business leaders," says Terry Stepien, president, iAnywhere Solutions. "Building on our mobile database leadership, this union will enable iAnywhere Solutions to fuel new growth and pioneer innovative solutions in the emerging mobile middleware market."
"We are impressed by the commitment of the Sybase and iAnywhere Solutions management teams to drive opportunities for our mobile enterprise products and the My AvantGo service around the world," says David Pratt, president and CEO, AvantGo. "There is a strong future for our products, customers, partners and employees with Sybase's significant global strength and resources."
"The acquisition is an important part of iAnywhere Solutions' strategic plans to fuel new growth in the mobile and wireless arena," says Alan Cowley, Sybase SA CEO. "We are excited by the opportunities of the new combined entity, and we are confident in iAnywhere Solutions' ability to execute on its strategy to drive future growth."
Following the completion of the acquisition, iAnywhere Solutions plans to:
* Open iAnywhere Solutions' leading mobile database to a new audience - enterprise Web developers.
* Expand the global enterprise reach of AvantGo's products and applications through Sybase's worldwide channels and robust partner base of more than 700 embedded database partners.
* Build on the momentum and brand awareness of the My AvantGo service, which has more than seven million registered users.
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