SAP finance chief says could look at big acquisitions again - report

FRANKFURT Sat Jan 25, 2014 5:55pm IST

Financial Officer of German software group SAP Werner Brandt attends the company's balance sheet news conference in Frankfurt January 25, 2012. REUTERS/Lmar Niazman

Financial Officer of German software group SAP Werner Brandt attends the company's balance sheet news conference in Frankfurt January 25, 2012.

Credit: Reuters/Lmar Niazman

Related Topics

Stocks

   

FRANKFURT (Reuters) - German business software maker SAP (SAPG.DE) could start looking at large acquisition targets again, particularly among cloud computing firms, its finance chief was quoted as saying by weekly Euro am Sonntag.

"We could look at almost any size," SAP's Chief Financial Officer Werner Brandt was quoted as saying. Brandt, who will retire in May, declined to name any potential targets.

SAP on Tuesday pushed back its profit target by two years as it waits for subscription revenue from cloud computing to gather pace and invests more in the business to keep up with a fast-growing market.

Cloud computing helps businesses cut costs by ditching bulky servers for network-based software in their own offices, instead using remote data centres run by technology companies.

IBM Markets Intelligence estimates the cloud computing market could be as big as $200 billion by 2020.

SAP entered cloud computing in 2012 after spending $7.7 billion on buying internet-based computing companies Ariba and SuccessFactors. Analysts have said SAP may need more acquisitions to reach its 2017 revenue target of 3-3.5 billion euros for the business.

(Reporting by Harro ten Wolde; Editing by Hugh Lawson)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Sino-Indian Ties

REUTERS SHOWCASE

Eyeing Stocks

Eyeing Stocks

Interview - EPFO chief urges green light to buy stocks  Full Article 

Stimulus Reports

Stimulus Reports

China cenbank injects $81 bln into major banks to support economy - reports  Full Article 

Ranbaxy Investigation

Ranbaxy Investigation

Ranbaxy says U.S. authorities seek information on pricing data.  Full Article 

Monsoon Update

Monsoon Update

Delayed retreat of monsoon rains to start this weekend  Full Article 

Financing Deal

Financing Deal

IndiGo agrees $2.6 billion aircraft finance deal with China's ICBC  Full Article 

Fed Policy Meeting

Fed Policy Meeting

Fed could hint on rate-hike plans as it prepares for policy turn  Full Article 

Grim Outlook

Grim Outlook

Sony deepens loss estimate on struggling smartphone business  Full Article 

Sugar Surplus

Sugar Surplus

India to produce surplus sugar for fifth straight year - industry body  Full Article 

Business Sentiment

Business Sentiment

China, Singapore slowdown weigh on Q3 Asia business sentiment   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage