SAP completes Sybase buy

German software giant SAP has completed its cash tender offer for around 87 million outstanding Sybase shares.

The deal was delayed earlier this month as regulators examined it.

SAP has confirmed that Sybase will remain as a separate entity under its current chief executive, John Chen.

The Australia & New Zealand managing director of SAP, Tim Ebbeck, said at the announcement of the AU$6.5 billion deal that the deal was being viewed by both companies as more of a "partnership" than an acquisition.

SAP is hoping Sybase's mobile applications will plug the one of two gaps in its product range.

"Sybase's expertise in the mobile business will be a key driver for the Sybase and SAP vision for the unwired enterprise," SAP said in a statement.

SAP's co-chief Bill McDermott and Chen plan to outline the joint company strategy on August 19.

In preliminary results for the first half of 2010 released yesterday, SAP said it expected the Sybase acquisition to bump up its six to eight percent revenue increase on 2009 revenues by a further two to three percent. The software maker took 8.9 billion euros in 2009.