A US court has approved a settlement reached between SAP and Sybase shareholders over SAP's $5.8bn (£3.93bn) purchase of the mobile software firm last year.
SAP made an offer to acquire all outstanding Sybase shares on 12 May 2010, but Sybase shareholders filed a lawsuit claiming that the price was too low, and that the information they had received about the purchase was "insufficient", according to a statement released by SAP on Tuesday.
However, the German software firm reported that the Superior Court of Alameda County in California has now granted "preliminary approval" for the settlement.
"Under the terms of the settlement, which was agreed to in principle prior to the closing of the tender offer, investors were provided additional disclosures concerning the transaction," said SAP.
SAP's acquisition of Sybase is one of the largest the company has ever made, after the $6.7bn purchase of business intelligence firm Business Objects in 2007.
Sybase currently runs as a separate unit within SAP, but the company has said that it plans to use Sybase's technology to enhance its own software portfolio.
SAP UK managing director Tim Noble said at a recent customer event in London that the company will provide customers with "applications and connectivity for any kind of device".
Noble added that the strategy is designed to capitalise on the trend among many businesses to allow staff to use their own technology in the workplace, a concept he described as "bring your own".
SAP also announced on Tuesday that it has appointed Christoph Kollatz to lead the development of its recently launched HANA high-performance analytic appliance software, which is designed to provide fast access to business information.
"I look forward to building on the success of SAP HANA and helping to drive large-scale adoption of this transformational technology globally," said Kollatz.
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