SAP AG, the largest maker of business management software, has been awarded a settlement of a group lawsuit over its $5.8 billion acquisition of software company Sybase Inc. last year in California court. The settlement applies to investors who held Sybase shares between May 12 and July 29, 2010.
Investors were granted additional disclosures about the about the acquisition under the settlement, which was reached in Alameda County court Monday. The lawsuit claimed the price SAP paid to Sybase shareholders was too low and that the company provided “insufficient” information regarding the acquisition.
SAP acquired Sybase to add products that would help corporate customers run applications on mobile devices. The acquisition was one of only two the German-based company has made in its 38-year history.