SAP Not in Merger Talks, CEO Says
German software giant SAP AG said it isn’t in talks to sell itself, dampening persistent market rumors of an impending deal.
“We’re not having any talks with anyone,” SAP co-chief executive Jim Hagemann Snabe said in an interview. He added that the more than 30 percent increase in SAP’s share price over the past year, which added €20 billion ($27.5 billion) to its market value, makes the company a less attractive target.
Strong demand for SAP’s business software amid the global economic recovery has fueled the share price rise. Despite those gains, SAP’s narrow focus and relatively modest size have fed speculation that it would be an attractive target as the maturing tech sector consolidates around industry giants such as International Business Machines Corp. and Hewlett-Packard Co.
“The best medicine for SAP to stay independent is to stay successful,” Mr. Snabe said in the interview at the CeBit technology conference in Hannover, Germany.
