SAP reveals acquisition plans for Ariba
Technology firm SAP is planning a takeover of Ariba.
Enterprise solutions provider SAP has revealed its latest acquisition plans, which centre on the takeover of cloud computing specialist Ariba.
The company is aiming to expand its operations in this area and wants to become a dominant player in the cloud market.
In order to conclude the deal, it could soon turn to a negotiation consultancy to facilitate talks between it and Ariba and reach a conclusion on various aspects of the buy-out.
SAP co-chief executive officers Bill McDermott and Jim Hagemann Snabe said: "The addition of Ariba will create the business network of the future, deliver immediate value to our customers and provide another solid engine for driving SAP's growth in the cloud."
Each of Ariba's shares will be bought for $45 (£28.50), making the total value of the deal approximately $4.3 billion.
In recent months, SAP has also completed a deal to take over another cloud company called SuccessFactors.
Posted by Ken Hayes
Source: SAP press release, May 22nd