SAP buys US software company SuccessFactors for $3.4 bln
Germany's SAP, a software company specialising in human resources functions, on Saturday announced it was to acquire US company SuccessFactors for $3.4 billion.
Under the deal, an American subsidiary will pay $40 per share in cash for SuccessFactors, 52 percent more than the closing stock price on Friday, a statement said.
The deal is the latest development in the growing rivalry between SAP and competitor Oracle.
© 2011 AFP