Leading enterprise resource planning (ERP) software manufacturer SAP has moved one step closer to excelling in the cloud market as a result of a lucrative merger.
The company is waiting to complete a proposed $3.4 billion (£2.2 billion) acquisition of SuccessFactors, which it believes will allow it to move forward in the cloud sector.
SAP has confirmed that the US Federal Trade Commission has used the Hart-Scott-Rodino Antitrust Improvements Act to grant an early termination of the waiting period usually required prior to such deals going through.
A tender offer of $40 per share was previously submitted by SAP and remains in place subject to certain conditions being passed, such as the approval of the Committee on Foreign Investment in the United States.
Cloud Pro recently predicted that the tie-up with SuccessFactors will allow SAP to make significant advances in the cloud market in 2012.
Source:http://www.codestone.net/news/story/erp-software-specialist-sap-edges-closer-to-cloud-expertise/801250919/
