SAP buys US software company SuccessFactors for $3.4 bln

4th December 2011, Comments 0 comments

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

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