SAP Plans EUR2 Billion Investment in France
January 23 2018 - 01:45AM
Dow Jones News
By Marc Navarro Gonzalez
SAP SE (SAP.XE) plans to invest more than 2 billion euros ($2.45
billion) in France over the next five years to accelerate its
digital strategy and support innovation in the country, the company
said on Monday.
The provider of business software said the investments will
include the opening of its second incubator in Europe, which will
nurture more than 50 technology startups, as well as an investment
of EUR150 million a year in research and development.
SAP said the investment will help it develop products based on
technology such as machine learning, blockchain and the Internet of
Things.
"We see immense potential in the entrepreneurial spirit of
France to disrupt business models, create modern jobs and unleash
exciting new opportunities that help the world run better," SAP's
Chief Executive Bill McDermott said after a meeting with French
President Emmanuel Macron.
Meanwhile, SAP said it is buying startup Recast.AI through its
French subsidiary SAP France Holding for an undisclosed amount.
Recast.Ai was founded in 2015 and focuses on developing software
and applications that use natural language to speak with users, SAP
said. Its said the acquisition will help SAP simplify complex
business interactions and improve customer experience.
Write to Marc Navarro Gonzalez at
marc.navarrogonzalez@dowjones.com
(END) Dow Jones Newswires
January 23, 2018 02:30 ET (07:30 GMT)
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