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News about SAP AG
SAP and Microsoft Expand Partnership and Integrate Microsoft Teams Across Solutions
SAP SE (NYSE: SAP) and Microsoft Corp. announced plans to integrate Microsoft Teams with SAP's intelligent suite of solutions. The companies also formalized an extensive expansion of an existing strategic partnership to accelerate the adoption of SAP S/4HANA® on Microsoft Azure. This builds on a joint commitment by the companies to simplify and streamline customers' journeys to the cloud.
Fri, 22 Jan 2021 14:00:00 +0000Read moreSAP Spinout Qualtrics Raises IPO Price Range
Qualtrics International could be the next hot enterprise software IPO. Now a wholly owned unit of German software giant (SAP) (ticker: SAP), Qualtrics is scheduled to go public next week. On Tuesday, the company raised the expected price range for its initial public offering to between $22 and $26 a share, up from a previous forecast of $20 to $24.
Tue, 19 Jan 2021 22:49:00 +0000Read moreSAP SE Extends Executive Board: Julia White Joins as Chief Marketing and Solutions Officer, Scott Russell Takes Over Customer Success
SAP SE (NYSE: SAP) today announced that the Supervisory Board appointed Julia White and Scott Russell to the Executive Board. White will take a new Executive Board role as chief marketing and solutions officer. Russell will head SAP's Customer Success organization. He will succeed Adaire Fox-Martin, who has informed the Supervisory Board that she will depart the company at the end of the month.
Fri, 15 Jan 2021 12:15:00 +0000Read moreSAP Says Covid May Continue to Squeeze Sales This Year
(Bloomberg) -- SAP SE’s attempt to accelerate moving customers to cloud-based software began to see signs of success, although the company warned sales will continue to be impacted by the effects of the coronavirus pandemic.The corporate software maker said 2021 cloud and software revenue, excluding some items, will be as much as 23.8 billion euros ($28.9 billion) in constant currency. When currency is adjusted, revenue may fall as much as 4% from a year earlier, Walldorf, Germany-based SAP said late Thursday in a statement.“This outlook assumes the Covid-19 crisis will begin to recede as vaccine programs roll out globally, leading to a gradually improving demand environment in the second half of 2021,” the company said.Shares in SAP were up 1% in early trading on Friday.SAP has spent years attempting to move away from legacy software that resides in clients’ computer servers, to cloud-based software, which is delivered over the internet. Chief Executive Officer Christian Klein is trying to develop such software, after his predecessors relied on acquisitions to do so. SAP has seen uneven results in this modernization effort and the company has twice in the past year warned that the pandemic would stymie client deals.Most notably, SAP’s shares crashed in November, falling 21%, the biggest intraday fall since 1999, after it cut its revenue forecast for the full year and warned the pandemic would hurt demand. Klein said at the time that the pandemic will delay SAP’s goals for revenue by one or two years.The latest results show a “slight improvement” in new license sales, but it is too early to call a turnaround, according to Bloomberg Intelligence analyst Anurag Rana. Cloud sales in North America and Europe beat SAP’s expectations, as well as software licenses.SAP, which was set to report earnings later this month, said fourth-quarter revenue declined 6% to 7.54 billion euros, in line with analysts’ average estimate of 7.5 billion, according to data compiled by Bloomberg.SAP reiterated that it expects limited growth and margin improvement over the next two years, and moved expectations to meet its 2023 strategy plan out to 2025.Demand for Qualtrics, the U.S. customer-survey software business that SAP is planning to list this year, was also strong, Berenberg analyst Andrew DeGasperi wrote in a note. In December Qualtrics filed for what could be one of the first U.S. initial public offerings of 2021, just over two years after it was acquired by SAP.(Updated with shares, additional context.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Fri, 15 Jan 2021 08:30:36 +0000Read moreGerman Software Giant SAP’s Shares Rally on Solid Quarterly Earnings
SAP said its performance sequentially improved in the fourth quarter even as the Covid-19 crisis persisted and lockdowns were reintroduced in many regions.
Fri, 15 Jan 2021 00:44:00 +0000Read more