BaanInOhio
8th October 2007, 19:23
Any ideas how this will affect the relationship between BO and Infor/Baan. My bet is that we will be near the end of the list for upgrades, support, etc.
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Business software maker SAP (SAP, news, msgs) is buying Business Objects (BOBJ, news, msgs) in a deal worth $6.8 billion.
"The combination of SAP and Business Objects in their respective domains will benefit customers, prospects, partners, employees and shareholders," SAP Chief Executive Officer Henning Kagermann said in a press release. "At SAP, we are excited about the prospect of having Business Objects join the SAP Group."
The purchase, SAP's biggest since it was founded in 1972, is a change for the company, one analyst said. It's "a dramatic shift in strategy," Thomas Hofmann, an analyst at Landesbank Baden-Wuerttemberg in Stuttgart, Germany, told Bloomberg News. "They're really moving toward the direction of Oracle (ORCL, news, msgs) and maybe that's because they're feeling Oracle is coming closer."
SAP's past strategy had been to foster organic growth, while rival Oracle has spent billions in acquisitions over the past few years. Shares of Business Objects jumped $7.52, or 15%, to $57.79 in midday trading; SAP shares were down $2.96, or 5%, to $56.27. Shares of Oracle were up 20 cents to $22.38.
Business Objects, which is based in Paris, will continue to operate as a stand-alone company. The deal is expected to close in the first quarter of 2008, if Business Objects shareholders approve it and regulators clear it
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Business software maker SAP (SAP, news, msgs) is buying Business Objects (BOBJ, news, msgs) in a deal worth $6.8 billion.
"The combination of SAP and Business Objects in their respective domains will benefit customers, prospects, partners, employees and shareholders," SAP Chief Executive Officer Henning Kagermann said in a press release. "At SAP, we are excited about the prospect of having Business Objects join the SAP Group."
The purchase, SAP's biggest since it was founded in 1972, is a change for the company, one analyst said. It's "a dramatic shift in strategy," Thomas Hofmann, an analyst at Landesbank Baden-Wuerttemberg in Stuttgart, Germany, told Bloomberg News. "They're really moving toward the direction of Oracle (ORCL, news, msgs) and maybe that's because they're feeling Oracle is coming closer."
SAP's past strategy had been to foster organic growth, while rival Oracle has spent billions in acquisitions over the past few years. Shares of Business Objects jumped $7.52, or 15%, to $57.79 in midday trading; SAP shares were down $2.96, or 5%, to $56.27. Shares of Oracle were up 20 cents to $22.38.
Business Objects, which is based in Paris, will continue to operate as a stand-alone company. The deal is expected to close in the first quarter of 2008, if Business Objects shareholders approve it and regulators clear it