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Sybase To Buy AvantGo

$38 million deal is designed to expand Sybase's presence in the wireless market.
Business software maker Sybase Inc. said Friday it has agreed to buy mobile software developer AvantGo Inc. for about $38 million in cash in a bid to expand its presence in the wireless market.

Both companies make products that help businesses support employees to use Internet sites, corporate information, and company-specific software on mobile devices.

The deal is expected to close in the first quarter of next year. AvantGo execs holding about 25% of the company's outstanding shares already have approved the transaction.

Sybase intends to operate AvantGo under its iAnywhere Solutions subsidiary. The acquisition of AvantGo positions iAnywhere Solutions as a leading player in the mobile middleware market by combining the companies' market presence and technologies. Together, iAnywhere Solutions with AvantGo will be able to offer an end-to-end mobile-business platform that addresses enterprise mobility of Web content, corporate data, and applications.