Sybase will keep trading under its own name as a “standalone unit” within the SAP group. Its management will remain in place and SAP has proposed that Sybase chairman and CEO John Chen join its executive board.

SAP said that the deal would help it accelerate the reach of its software across mobile platforms and “unlock significant business value” out of existing contracts through higher rates of adoption of the firm’s technology.

Sybase will benefit from the addition of SAP customers, the latter said, in fields beyond than its traditional pool of financial sector clients.

Bill McDermott (pictured), SAP co-CEO said: “This is a game changing acquisition for SAP and Sybase customers, who will be better able to connect with their employees and make it easier for companies to make faster, more informed business decisions in real time.”

Sybase’s John Chen added: “SAP’s in-memory technology in combination with Sybase’s database technology will revolutionise how transactional and analytical applications are built, benefiting all businesses.”