SAP Agrees to Acquire Fieldglass in Cloud-Computing Push
March 26, 2014
Grazed from Bloomberg. Author: Aaron Ricadela.
SAP AG agreed to acquire Fieldglass, a U.S. software supplier that specializes in managing contract workforces, furthering the German company’s push into Internet-based applications. Fieldglass, whose programs help businesses oversee contract employees and projects, would complement earlier acquisitions of personnel software supplier SuccessFactors Inc. and online marketplace Ariba Inc., Walldorf, Germany-based SAP said today.
Closely-held Fieldglass in 2010 received an investment from private-equity firm Madison Dearborn Partners LLC valuing the Chicago-based company at more than $220 million. The deal is the latest in a string of takeovers by Co-Chief Executive Officers Bill McDermott and Jim Hagemann Snabe over the past four years in an attempt to vault SAP into the expanding market for cloud-computing tools delivered to customers online…
SAP, whose software is installed on thousands of companies’ servers and data centers, and Oracle Corp., its biggest rival in traditional enterprise software, have also been using acquisitions to challenge cloud-only providers such as Salesforce.com Inc. and Workday Inc. “Combining Fieldglass with SAP is a significant milestone in our strategy,” McDermott, who will take over as sole CEO in May, said in a statement…
Read more from the source @ http://www.businessweek.com/news/2014-03-26/sap-is-said-to-plan-acquisition-announcement-as-early-as-today
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