SAP open to acquisitions in Asia, to hire more in India and China: report
14 Nov 2011
Germany-based SAP AG, the world's biggest maker of business software says it is open to acquisitions in Asia, a senior executive today said.
The Walldorf-based maker of enterprise software also plans to hire more in fast-growing markets like China and India, said Stephen Watts, president of SAP Asia-Pacific and Japan, at the Reuters China Investment Summit.
Watts sees limited impact on the company's sales from the economic turmoil in the US and Europe, but expects Asia to contribute more to overall revenue in coming quarters.
When asked by Reuters reporters in Hong Kong whether his company is open to acquisitions in Asia, Watts said, ''Yes we are, we are most certainly open to acquisitions, but it has to bring incremental innovation to the customer. That is the first absolute go, no-go. "
"Asia will absolutely form a greater part of the pie as the quarters and years progress, but I don't think that's as a result of the rest of the pie getting smaller," he added.
SAP, which had revenues of €12.4 billion last year and competes with Oracle Corp of the US, has in the recent past made acquisitions, including wireless internet software firm Sybase Inc in 2010 for $5.8 billion and France based financial management and reporting software company Business Objects in 2008 for $6.8 billion.
