Business Tech

SAP will buy SuccessFactors for $ 3.4 billion

(Reuters) – On Saturday SAP announced a cash offer of $ 3.4 billion (2.5 billion euros) for SuccessFactors, a U.S. company specializing in the design of software running from the Internet.

The German business software solutions thus enters the race for the “cloud computing”, the remote computer via Internet, which can offer services in a cloud.

Last October, Oracle, SAP’s archrival, had disbursed $ 1.5 billion for the repurchase of RightNow Technologies, a company also specializes in cloud computing.

SAP said it would pay $ 40 per share SuccessFactors, a premium of 52% over the closing price of 26.25 dollars on Friday .

Paul Hamerman, an analyst with research firm Forrester, said the substantial premium granted by SAP for the delay in the group in the “cloud computing”.

According to Forrester, this segment will grow from 40.7 billion in 2011 to over 240 billion in 2020.

During a conference call, SAP said the acquisition would enable SuccessFactors to beat its target of a turnover of 20 billion euros in 2015 while maintaining a margin target of 35%.

 

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