TechnologySAP and Business Objects announce mega-deal

SAP and Business Objects announce mega-deal

Business software giants launch landscape-changing deal worth £3.3bn

SAP and Business Objects, two of the leading groups in business and
accounting software, have announced that they are to join forces in a €4.8bn
(£3.3bn) mega-deal.

SAP will effectively acquire Business Objects in a friendly takeover, which
has been approved by the Business Objects board and is set to be recommended to
shareholders.

The acquisition of Business Objects is part of SAP’s strategy to double its
market share by 2010.

‘The combination of SAP and Business Objects in their respective domains will
benefit customers, prospects, partners, employees and shareholders,’ said SAP
chief executive Henning Kagermann.

Business Objects will operate as a stand-alone business within the SAP
Group. John Schwarz will continue as the CEO of the Business Objects entity and
is expected to become a member of the SAP executive board.

Further reading:

Business Objects lays down gauntlet to
rivals

Business Objects snaps up Cartesis

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