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.