SAP To Acquire Business Objects

SAP AG has agreed to acquire Business Objects. The company will function as a stand alone business as part of the SAP AG group.

According to the release, SAP and Business Objects intend to offer high-value solutions for process- and business-oriented professionals. The solutions will be designed to enable companies to strengthen decision processes, increase customer value and create sustainable competitive advantage through real-time, multi-dimensional business intelligence.

“We are highly committed to the next generation of applications serving business users,” said Henning Kagermann, CEO of SAP AG. “The combination of SAP and Business Objects in their respective domains will benefit customers, prospects, partners, employees and shareholders. At SAP, we are excited about the prospect of having Business Objects join the SAP Group.”

“The acquisition of Business Objects is in keeping with SAP’s stated strategy to double our addressable market by 2010 as announced in 2005 " said Kagermann. “SAP will accelerate its growth in the business user segment, while complementing the company’s successful organic growth strategy,” he added.

More from Biztech

Future Group - Reliance Retail Deal approved by CCI RBI ban on cryptocurrencies takes effect; prohibition could force investors to tap the black market

Business Objects customers will continue to benefit from open, broad and integrated business intelligence solutions – independent of databases and applications – while also gaining the advantage of application alignment for business analytics. Business Objects will significantly enhance its Business Intelligence portfolio scope and capacity with SAP people, know-how and networks.

When the transaction is complete, John Schwarz will continue as the CEO of the Business Objects entity and is expected to become a member of the SAP Executive Board.