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SAP buys $2.4 billion U.S. software firm

Staff Writer |
SAP announced a $2.4 billion U.S. acquisition to help it boost revenues from its cloud platform and CEO Bill McDermott said it would streamline its overall business this year to bolster margins.

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The German company is midway through a strategic transition, aiming to force the pace on developing its S/4 HANA cloud platform, which now counts 7,900 customers, and wean customers off software sold under license and installed at offices and factories.

Acquiring U.S. sales software firm Callidus will help SAP in its ambition to become the market leader in so-called front-office software used in sales and marketing, building on its strength in back-office software that is used by companies to maintain control over far-flung multinational operations.

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