SAP plans to acquire US-based Cloud services provider Ariba for about 4.3 billion dlrs.
The German business software group said the acquisition, which is set to close in the third quarter, will combine Ariba's buyer-seller collaboration network with SAP’s broad customer base andbusiness process expertise. That combination will help provide "new models for business-to-business collaboration in the Cloud," SAP said in a press release.
With the acquisition, the leader in Cloud-basedcollaborative business commerce will become part of SAP. The German company said that will add business-to-business collaboration solutions, a fast-growing part of the market, to its product portfolio.
SAP also noted the move accelerates its momentum into the Cloud by boosting its portfolio of cloud applications.
"Cloud-based collaboration is redefining business network innovation, and we are catching this wave in the early stage of its evolution," SAP Co-CEOs Bill McDermott and Jim Hagemann Snabe said in a joint statement.
"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," they added.
California-based Ariba has about 2,600 employees and 444 million dlrs of revenue.
For a transcript of an investor conference call with McDermott and Snape, please go to: http://www.sap.com/corporate-en/investors/index.epx