SAP Sees No Further Big Cloud Buys After SuccessFactors - Report
December 16 2011 - 2:44AM
Dow Jones News
German business software maker SAP AG (SAP.XE) has no plans for
further big cloud takeovers following the planned acquisition of
SuccessFactors Inc. (SFSF), Financial Times Deutschland reported
Friday, citing SAP's Co-Chief Executive Bill McDermott.
SuccessFactors was "the big one," McDermott is quoted as saying
in the report.
SAP said earlier this month it plans to acquire San Mateo,
Calif.-based SuccessFactors for $3.4 billion. The U.S. company
provides software via the Internet that helps businesses manage
employees and carry out performance reviews.
The deal is expected to be completed in the first quarter of
2012.
Newspaper website: http://www.ftd.de
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.
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