July 27, 2020 / 12:58 PM / 18 days ago

SAP puts M&A back on agenda after Qualtrics spinoff

FILE PHOTO: SAP logo at SAP headquarters in Walldorf, Germany, January 24, 2017. REUTERS/Ralph Orlowski/File Photo

BERLIN (Reuters) - SAP will return to actively exploring potential takeovers, CEO Christian Klein said on Monday, after the German business software group announced plans to float its Qualtrics division.

“We will continue to manage this company for value, not short-term margin maximisation,” Klein told analysts on a conference call, adding SAP would investigate growth opportunities even if margins are squeezed in the short term as a result.

SAP said earlier it planned to float a minority stake in Qualtrics, the U.S. specialist in measuring online customer sentiment that it acquired less than two years ago for $8 billion.

SAP plans to update investors on its medium-term plans at a capital markets day in the fourth quarter.

Reporting by Douglas Busvine; Editing by Michael Nienaber

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