Thursday, 9 November 2006

Sybase Completes Mobile 365 Buy

Information management software maker, Sybase has completed the USD 417 million acquisition of Mobile 365, a provider of mobile messaging services to cell phone companies and Internet service providers.

Including its new Sybase 365 unit, the company said it expects a 2007 profit between USD 1.01 and USD 1.03 per share, or on an adjusted basis, between USD 1.50 and USD 1.52 per share on sales of about USD 1.02 billion. Analysts polled by Thomson Financial, on average, expect a profit of USD 1.55 per share on sales of USD 963.5 million.

"Our acquisition of Mobile 365 is strategic, visionary and progressive in scope," John Chen, Sybase chairman, CEO and president said in a statement. Shares of Sybase added ten cents to close earlier at USD 24.36 on the New York Stock Exchange, following the news of the completion of the acquistion.