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SAP forces the pace on cloud, buys $2.4 billion US software firm

WALLDORF, Germany (Reuters) - Europe’s top technology company SAP ( SAPG.DE ) announced a $2.4 billion U.S. acquisition to help it boost revenues from its Cloud platform and Ceo Bill Mcdermott said it would streamline its overall business this year to bolster margins.

“This year, the entire company will be on one platform,” McDermott told Reuters after SAP announced 2017 results that met its twice-raised guidance but came in just shy of analyst expectations.

FILE PHOTO: SAP SE CEO Bill McDermott attends the company's annual results press conference in Walldorf, Germany, January 24, 2017.

The world economy is “about as good as it gets”, the 56-year-old American said, pushing back against fears that rising trade protectionism could hurt globally diversified businesses like SAP.

McDermott has just completed a week of hectic corporate diplomacy in which he met French President Emmanuel Macron in Paris and dined with U.S. leader Donald Trump at the World Economic Forum in Davos, Switzerland.

READ MORE (Reuters)

  • SAP Q4 2017: Stable profit with a cloud sales surgeZDNet
  • SAP Goes Big on the Cloud With $2.4 Billion Buy of Sales Software Firm CallidusFortune
  • SAP acquires Callidus Software in $2.4 billion dealZDNet
  • SAP pushes into sales tracking market with $2.4 bln Callidus buyNasdaq
  • SAP Makes Biggest Deal Since 2014, CEO Backs Trump's Tax PlanBloomberg
  • SAP America to Buy Callidus for $2.4 BillionU.S. News & World Report
  • SAP makes biggest deal since 2014 in hunt for cloud businessFin24
  • SAP AG (SAP) Agrees to Acquire Callidus Software Inc. (CALD) for $36/
  • SAP to acquire Nasdaq-listed Callidus for $2.4bnFinancial Times

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SAP forces the pace on cloud, buys $2.4 billion US software firm


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