SAP has made an Euro 4.8bn offer for business intelligence specialist Business Objects.
The deal has been approved by the Business Objects board of directors which is currently considering recommending the offer to its shareholders, subject to the fulfilment of certain regulatory requirements.
The combined company will offer a range of products aimed a process and business oriented professionals.
Henning Kagermann, chief executive of SAP, said: "We are highly committed to the next generation of applications serving Business Users. 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. SAP will accelerate its growth in the Business User segment, while complementing the company’s successful organic growth strategy. With the delivery of the first business process platform; the rapid adoption of our enterprise SOA platform, SAP NetWeaver; and the successful launch of the first complete on-demand business solution for midsized companies, SAP Business ByDesign, SAP can now take the opportunity to focus on the industry’s next high-growth opportunity, by accelerating and enhancing our efforts for the Business User category,” Kagermann, added.
Bernard Liautaud, chairman and founder of Business Objects, said: "Business Objects helps companies transform the way they work through the use of intelligent information. The combination of Business Objects and SAP means that we can truly amplify the reach of Business Intelligence – from the C-suite to Main Street. John Schwarz and I are excited to see the innovation and hard work of our employees and partners validated and soon extended by the portfolio, domain expertise and presence of SAP.”
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