SAP still open to large acquisitions – co-CEO

STUTTGART, Germany, June 8 (BestGrowthStock) – German software group
SAP (SAPG.DE: ) is on the lookout for acquisitions — including
big ones — even after a $5.8 billion deal last month to buy
database specialist Sybase (SY.N: ), its co-CEO told shareholders.

“To enhance our market position even more, we continue to
search for acquisitions to provide us with innovative
functionality and software to complement, enhance, and round out
our industry, product, and technology offerings,” Jim Hagemann
Snabe said in remarks prepared for SAP’s annual meeting.

“We are also open to larger acquisitions, if it means more
value for our customers and shareholders.”

Just three months into their new jobs as co-chief
executives, Snabe and Bill McDermott pounced on Sybase in what
would be the second-largest acquisition in SAP history after its
purchase of Business Objects in 2008. [ID:nLDE64C06M]

Snabe said the Business Objects deal strengthened SAP by
enhancing its product offerings, while the Sybase purchase would
help it provide services for mobile devices and leverage
in-memory technology.


(Reporting by Nicola Leske and Michael Shields)

SAP still open to large acquisitions – co-CEO