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December 1, 1993

SYBASE PAYS $21m IN SHARES FOR OASIS GROUP PLC

By CBR Staff Writer

Relational database specialist Sybase Inc, Emeryville, California turned its attention to the integration and management consultancy business yesterday with a bid to buy Maidenhead-based Oasis Group Plc. Oasis, a low-profile business re-engineering company, was founded in 1986. It now has 100+ employees and an impressive client list. Revenues for the year ending this June were $10.5m. Sybase will issue $21m of new common stock in exchange for all outstanding Oasis ordinary shares. It needs the assent of 95% of Oasis shareholders for the deal to go through and it claims to have majority backing already, as well the support of Oasis’s directors. It is anticipating, therefore that the deal will go through in January. Oasis will operate as a separate international division of Sybase with Wilf Eaton, Oasis chief executive, reporting directly to Dave Peterschmidt, Sybase vice-president and general manager of worldwide field operations. Sybase currently gets 10% of its turnover from consultancy – the company says that the acquisition will allow it to take a more active role in its customer’s strategic business planning and is particularly interested in enhancing its skills in the financial world to enhance its Wall Street business. Oasis already has US offices in San Diego, California and Dallas, Texas.

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