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SAP Buys Into the Cloud

ERP provider pays $3.4 bln for SuccessFactors.

By Ragnhild Kjetland and Aaron Ricadela, Bloomberg | Updated on December 05, 2011

SAP AG’s then-chief Leo Apotheker told investors in 2009 that the German company’s homegrown technology was “significantly better” than that of Oracle Corp., which had “not done a good job with acquisitions.”

Apotheker was forced to leave three months later and his successors, co-CEOs Bill McDermott and Jim Hagemann Snabe, have already spent more than $9 billion on two major takeovers. The most recent came on Saturday, when SAP agreed to buy San Mateo, California-based SuccessFactors Inc. for $3.4 billion in cash to catch up with Oracle in the cloud-computing market.

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