By Anne Widjaja
SAP AG and SuccessFactors has announced the successful completion of SAP AG’s cash tender offer, through Saturn Expansion Corporation, for all issued and outstanding shares of SuccessFactors.
Only a week after the expiration of the tender offer, which was extended to 8 February 2012 as a result of delays in regulatory approval, over 81 million shares of common stock of SuccessFactors have been successfully tendered.
The acquisition will hopefully consolidate SAP’s ambition to become a global cloud leader in the market for business management solutions.
Mercedes Ellison, vice president of global alliances and channels, SuccessFactors, praised the strategic value of the acquisition.
“Our union with SAP will accelerate SuccessFactors’ BizX roadmap by 10 years, which in turn will speed our partners’ ability to deliver new solutions that meet growing customer demand.”
“Together, we will scale our businesses to capitalise on the tremendous business opportunities in enterprise and people-focused cloud applications.”