SAP announced this Saturday to buy SuccessFactors in a hard cash deal of $3.4 billion. SAP is a leading business management software maker in Germany, whereas SuccessFactors is a smaller company which develops web-based enterprise softwares.
SAP will be buying Successfactors’s all share with $40 each.
German giant has offered SuccessFactors’ shareholders a 52 percent premium above Friday’s closing price.
Cloud-based enterprise softwares are attracting many business people due their flexibility and this might be a next successful investment.
“The cloud is a core of SAP’s future growth, and the combination of SuccessFactors’ leadership team and technology with SAP will create a cloud powerhouse,” Bill McDermott, the co-chief executive of SAP, said in a statement on Saturday.
SAP is making its presence fell in the market with its expansion plans, as it has bought Crossgate as well.
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