SAP to invest more money in Canada

by Editor 6/23/2008 3:27:00 PM

SAP AG, global leader on the business management software market, recently closed a $6.8 billion takeover of global intelligence software firm Business Objects and now plans to invest even more money in Canada.

The German software giant has 1,800 employees in its Business Objects office in Vancouver and a total of 2,900 employees across the counrty. Most of them are based in Toronto, Montreal and now in Vancouver.   

Henning Kagermann, co-CEO of SAP AG, told The Canadian Press: "We all have intentions to invest more here... I am not sure we would have done this with just our Montreal and Toronto offices, to be very honest. With this acquisition, I think it's obviously a key hub for us."

He pointed out that the acquisition and the company's stronger presence in Canada play a strategic role in SAP's operations:

"If the team is performing like I expect and we are not short of talent, there is no reason not to expand." 

The merger of SAP and Business Objects was originally announced last autumn.

Jeffries & Co. analyst Ross MacMillan has voiced some concerns over this move:

"The biggest question for investors is whether they will have to revise down. One could argue this year's demand environment is not as healthy." 

Kagermann said that he didn't believe the credit crunch would have a major impact on his industry:  

"I don't believe it will be tougher. My assumption is it will not recover shortly. I don't expect a much better market sooner, but I also don't expect a deeper recession. And, based on this assumption, we think we can make our targets this year." 

 

 

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