<-! - Media>
Date: 19/09/2014 01:49 clock
SAP ventures on its most expensive acquisition. The DAX company and world market leader for software companies want for about 6.5 billion euros swallow US-based Concur, which specializes in enterprise software for business, as the Walldorfer announced on late evening.
This SAP is expanding its services in the so-called cloud business with software that is offered in the subscription model of foreign servers. The acquisition was financed with loans over seven billion euros. These are intended to cover not only the purchase price but also the repayment of existing debt, said a company spokesman. SAP offers $ 129 per Concur share. This represents a premium of 20 percent to the closing price on September 17. The shareholders of the U.S. company must approve the deal yet.
The acquisition joins a series of billion-takeovers in recent years. 2012 SAP bought the provider of HR software SuccessFactors for 3.4 billion euros and the trading platform for Ariba 4.2 billion euros. With all three acquisitions SAP strengthened its cloud business. The software giant does yet the smaller part of its revenue from this type of on-demand software. But the area is to double-digit growth in the coming years.
Almost simultaneously with the announced an ad-hoc assumption informed the SAP-time rival Oracle with that CEO Larry Ellison office abgebe. The dazzling Group founder will continue to chair the Board of Directors, as the company announced. The former deputy Mark Hurd and Safra Catz will replace Ellison in business operations.
Oracle also released the financial results for the first quarter of fiscal 2015 to the end of August. Revenue increased year on year by three per cent to 8.6 billion dollars (6.7 billion euros) and remained below the expectations of analysts. The net profit stagnated at 2.2 billion dollars. The company announced share buybacks over 13 billion dollars to.
On the stock market reactions were negative. After the news of Ellison’s resignation made the rounds, the Oracle shares slipped significantly. Last traded the paper with about two percent in the red.
No comments:
Post a Comment