SAP to Buy Maker of Database Software MOVERS MARKETPLACE By Bloomberg

Oct 09, 03:01 AM

Current Headlines: By Kenneth Wong

SAP, the largest maker of business-management software, agreed Sunday to buy Business Objects for "slightly" more than 4.8 billion. SAP said it would offer 42, or $59.22, in cash for each share of Business Objects, which is based in Paris and is the largest maker of software to track corporate databases.

Business Objects's management board supports the "friendly takeover" and plans to recommend the offer to shareholders subject to certain regulatory requirements, SAP said. The German company will finance the purchase using available cash and borrowings.

The deal will lift SAP's earnings per share under U.S. accounting standards starting in 2009, SAP said. Business Objects had $1.25 billion in sales last year. SAP expects the transaction to be completed in the first quarter of 2008.

Originally published by Bloomberg News.

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