Europe’s leading software company SAP dares the self-proclaimed biggest takeover of a company that offers financial services in the Internet. On the night of Friday, we announced the acquisition of the specialist in travel and expense management Concur for $ 8.3 billion.
Concur is a platform for the booking and billing of business. The portal works about along with flight and hotel providers. Recently, the company also cooperates with the taxi Konkurreten Uber and the room mediator Airbnb.
The advantage of Concur is that booking and billing of travel from one hand done. In Germany as well as the German bank and the German postal use the services of the company.
That Concur could stand before a sale, it was speculated for days . The Bloomberg news agency, according to Concur had already spoken to the SAP rival Oracle on a sale.
SAP does with the acquisition pace in transforming to a cloud-specialists . Instead, as in the past, the customer software to sell and make money on the maintenance, SAP wants to continue to offer customers access to programs that are on central servers.
so that a massive cultural change is connected for SAP. Business in the Cloud throws namely in the starting phase from lower returns than the business with classic software. The reason is that customers do not buy products, but pay over a longer period a rental charge.
At the beginning of SAP CEO Bill McDermott had already announced that even more determined than before to put on the growth of software, which is in the data cloud.
Large growth targets
SAP harbors ambitious growth targets. By 2015, sales will be expanded with Internet-demand software from one to two billion euros, 2017, the old plans currently lie in three to 3.5 billion euro revenue – the goal is likely to SAP, however, probably soon correct upwards
What high ambitions SAP now has in the region of the cloud, which made SAP CFO Luca Mucic last week clearly. Then he explained that already in 2020 the business with cloud software would be more important than the traditional business.
SAP has invested in recent years a lot of money in acquisitions in the area. So the company took three years before the cloud specialist SuccessFactors for 3.4 billion Euros – this acquisition had already put a big bang in the industry.
particularly strong SAP invested in companies that deal in goods and services on the Internet. So the company bought two years ago the trading platform Ariba for $ 4.3 billion, about the companies handle orders. Last year acquired SAP Field Glass, a software that manages the demand for temporary workers.
With the purchase of Concur SAP builds its distance as the leading global providers of such trade networks further. “SAP will handle transactions of more than $ 600 billion per year,” said SAP CEO Bill McDermott at its headquarters in Walldorf. “That is 50 percent more than Ebay, Amazon and Alibaba together.”
The business travel market is attractive. Worldwide give businesses and self-employed per year from $ 1.2 trillion for business travel. Concur itself currently handles a volume of 50 billion dollars. Although
No profit
Concur has a billion rating on the stock. But a profit writes the company does not yet. In recent years, the company write a loss of $ 24.4 million.
Together with SAP, Concur would now like to profitability. “We see tremendous growth potential,” said Concur CEO Steve Singh after the announcement of the business in the early hours of Friday.
“We give our customers new possibilities to organize their commercial relations and to perform business processes for goods and services, project and temporary workers and business, “said Bill McDermott said.
This should include the new , super fast database system Hana contribute. SAP provides new solutions in view, to make business travel easier and more flexible in future
Together, the two companies have more than 50 million users in the cloud. – more than any other provider of cloud solutions for business processes. Terms of sales, SAP is the second largest cloud providers according to Salesforce.com.
growth thanks to SAP
SAP is the largest provider of business software worldwide and has a global sales network. The majority of SAP customers turn still no solutions Concur, SAP said. This opens up the opportunity to grow within the existing customers of SAP.
SAP also wants to help make Concur also gaining more customers than governments. Already in 2012 joined Concur with several federal agencies, a 15-year contract for the use of cloud software for travel management and travel management from.
“The acquisition of Concur highlights the strategic importance of business networks, “said SAP CEO Bill McDermott. “We are taking an important step to make in the future the business within companies and between companies innovate.”
SAP wants the acquisition of loans in the amount finance of up to seven billion euros. Completion of the transaction is expected in the fourth quarter of 2014 or the first quarter of 2015 and is subject to approval by the shareholders Concur, the approval of the relevant regulatory authorities and other customary in this context permits.
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