Mergers and Acquistions News
Categories: IT Services & Consulting
October 26th 2011, 14:28PM
SAP is not planning to alter its strategy with regard to mergers and acquisitions in the near future, despite the actions of one of its biggest rivals.
That is according to Jim Hagemann-Snabe, co-chief executive of the firm, who has told Reuters there are currently no provisions in place to implement a strategy that would see it increase its activity in the takeover arena.
It emerged earlier this week that Oracle - a major competitor of SAP - is set to complete the acquisition of online customer services company RightNow Technologies for a fee of around $1.5 billion (£936 million) before the end of the year.
This forms part of Oracle's tactic to increase its involvement in the cloud computing sector following the economic downturn.
However, Mr Hagemann-Snabe has insisted his organisation will not follow suit.
"We don't want to buy market share or consolidate the past, but innovate the future and we are looking at companies of that future kind," he added. 
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