Sybase Closes Mobile 365 Buy
Sybase (SY), a provider of enterprise infrastructure and mobile software, said Wednesday it completed the acquisition of Mobile 365, for $397 million in cash.
The Dublin, Calif.-based company said that Mobile 365, a provider of mobile messaging services to cell phone companies and Internet service providers, will now operate as its wholly-owned subsidiary, Sybase 365. The Sybase mFolio business will be integrated into Sybase 365 immediately, and certain assets of Sybase AvantGo will be integrated into Sybase 365 early in 2007.
Sybase said that it expects 2007 earnings, including Sybase 365, of $1.01 to $1.03 a share on revenue of $1.02 billion. Adjusted earnings, including Sybase 365, are expected to be $1.50 to $1.52 a share. Analysts polled by Thomson First Call were expecting earnings of $1.55 a share, on revenue of $963.5 million for the full year 2007.
Full year 2007 revenue from Sybase 365 is expected to be around $120 to $125 million, including the contributions from mFolio and certain assets of the AvantGo business.The company expects the acquisition to be accretive to pro forma EPS by the fourth quarter of 2007. Full year 2007 cash flow from operations is expected to be $185 to $190 million. ''With this acquisition, we expand our Unwired Enterprise offerings and our ability to deliver information anytime, anywhere, to any type of device," said the company.
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